By Mary-Katherine Stinson
Lexington, Ky., Sept. 5 – Landsbankinn hf. completed its third green bond euro-denominated issue, according to multiple notices.
The €300 million of bonds due March 2027 bear interest at 6.375% and were sold at terms equivalent to 313 basis points spread above mid-swaps. The bonds were talked in the 7% area.
Subscriptions were over €1.5 billion from more than 140 investors from continental Europe, UK and Scandinavia.
BofA Securities, Inc., Citigroup, Deutsche Bank and Morgan Stanley led the sale.
The bonds will be issued under the bank’s EMTN program with reference to the bank’s sustainable finance framework, which has been reviewed by Sustainalytics.
The bonds will be admitted to trading on Euronext Dublin effective Sept. 12.
Reykjavik, Iceland-based Landsbankinn provides personal and corporate banking and financial market solutions.
| Issuer: | Landsbankinn hf.
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| Amount: | €300 million
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| Issue: | Green senior bonds
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| Maturity: | March 2027
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| Bookrunners: | BofA Securities, Inc., Citigroup, Deutsche Bank and Morgan Stanley
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| Coupon: | 6.375%
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| Spread: | 313 bps over mid-swaps
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| Announcement date: | Sept. 5
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| Listing date: | Sept. 12
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| Initial price talk: | 7% area
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| ISIN: | ISIN: XS2679765037
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