Arion Bank: Covered Bond Auction on March 6th 2024.
March 04, 2024 at 06:29 am
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Published: 2024-03-04 12:20:00 CET
Arion Bank hf.
Other information disclosed according to the rules of the Exchange
Arion Bank: Covered Bond Auction on March 6th 2024.
Arion Bank will offer ISK-denominated covered bonds in the series ARION CBI 30 and ARION CB 27 on Wednesday, March 6th 2024.
The bonds will be offered in a single-price auction, where all accepted offers will be awarded at the highest accepted yield. Arion Bank reserves the right to accept or reject offers in part or in whole.
In connection with the auction, a covered bond exchange offering will take place. Holders of the covered bond ARION CB 24 will have the opportunity to exchange the series for covered bonds in the aforementioned auction. The clean price of the exchange offering is 99.6985.
The expected settlement date is on March 13th 2024. Both cash and ARION CB 24 exchange offering proceeds will be accepted as payment.
The auction is managed by Arion Bank Capital Markets. Offers shall be submitted before 16:00 GMT on March 6th 2024 by email to skuldabrefamidlun@arionbanki.is.
For any further information please contact:
Theodór Friðbertsson, Head of Investor Relations at Arion Bank, ir@arionbanki.is, tel. +354 856 6760 or Eirikur Dor Jonsson, Head of Treasury at Arion Bank, eirikur.jonsson@arionbanki.is, tel. +354 856 7171
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Arion Bank Covered Bond Auction on March 6th 2024..pdf
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Arion banki hf (the Bank) is an Iceland-based financial institution that provides individuals, corporations and institutional investors with banking services. The Bank reports six operating segments: Asset Management, which comprises institutional asset management, private banking, investment services and pension fund administration; Corporate Banking that provides a full range of lending products, deposit accounts, payment solutions and value-added electronic corporate solutions; Investment Banking, which includes such services as buying and selling of companies, advice on financial decisions undertaken by companies and investors, as well as buying and selling of securities; Retail Banking that provides such services as deposits and loans, savings, payment cards, pension savings, insurance, securities and funds; Treasury that is responsible for the Bankâs liquidity, currency and interest rate management, and Subsidiaries and other divisions, including Valitor Holding hf, among others.