30. August 2018 - News and Notifications
Landsbankinn hf. has today concluded the sale of its inaugural Tier 2 issuance. The EUR 100 million 10NC5 structure is callable in September 2023 with a final maturity in September 2028. The issuance is expected to be rated BBB- by S&P Global Ratings.p>The bonds were priced at a spread of 285 basis points above the EUR mid-swap market rate, with a coupon of 3.125%. The total demand was EUR 160 million from investors mainly from Scandinavia, Continental Europe and the UK.
The bonds will be issued under the bank’s EMTN programme and are scheduled to be admitted to trading on the Irish Stock Exchange on 6 September 2018.
Joint lead managers on the transaction were Citigroup and J.P. Morgan.
Lilja Einarsdóttir, Landsbankinn’s CEO:
“Landsbankinn is pleased to have reached the milestone of finalising its inaugural sale of a Tier 2 issuance in euros. Investors were very receptive which illustrates the growing trust the bank enjoys on international capital markets. The issuance is a step towards further optimising the bank’s capital structure, supporting long-term return-on-equity targets.”
News and Notifications - 07 May 2020 04:55 PM
In the first three months of 2020, Landsbankinn's after-tax results were negative by ISK 3.6 billion, compared with an ISK 6.8 billion profit for the same period in 2019. Loan impairment amounted to ISK 5.2 billion in the period, compared with impairment of ISK 1 billion in the same period last year.
News and Notifications - 24 April 2020 06:00 PM
S&P Global Ratings has today announced a lowering of Landsbankinn’s long-term credit rating. The credit rating is lowered by one notch, to BBB/A-2 with stable outlook.
News and Notifications - 22 April 2020 03:03 PM
The Annual General Meeting of Landsbankinn was held on 22 April 2020 at the Bank’s headquarters in Austurstræti 11, Reykjavík. At the AGM, Helga Björk Eiríksdóttir, Chairman of the Board of Directors, presented the report of the Board of Directors, and Lilja Björk Einarsdóttir, CEO, spoke of the Bank’s solid standing and good performance in 2019.
Landsbankinn hf. Austurstræti 11, 155 Reykjavík, Reg. No. 471008-0280
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