Arion Bank holders tender €143.82 million of 1% notes due 2023

By Marisa Wong

Los Angeles, Sept. 21 – Arion Bank hf announced the results of its Sept. 12 tender offer for any and all of its €280 million outstanding 1% notes due March 20, 2023 (ISIN: XS1794196615), according to an announcement.

As of the expiration of the offer at 11 a.m. ET on Sept. 20, holders had tendered €143,826,000 of the notes for purchase.

Subject to the offer’s financing condition being met, Arion will accept for purchase all of the tendered notes.

The bank is offering 99.6 per note. Accrued interest will also be paid.

Settlement is planned for Sept. 22. After that, €136,174,000 of the 2023 notes will remain outstanding.

The dealer managers are BofA Securities Europe SA (+33 1 87 70 10 57, DG.LM-EMEA@bofa.com), Citigroup Global Markets Europe AG (+44 20 7986 8969, liabilitymanagement.europe@citi.com), J.P. Morgan SE (liability_management_EMEA@jpmoran.com) and Nomura Financial Products Europe GmbH (+44 20 7103 2454, liability.management@nomura.com).

Kroll Issuer Services Ltd. is the tender agent (+44 20 7704 0880, arionbank@is.kroll.com, https://deals.is.kroll.com/arionbank).

Arion is a Reykjavik, Iceland-based bank.

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