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Arion Bank repurchases NOK 59 million of bonds due 2016 at 102.5
By Susanna Moon
Chicago, Jan. 9 – Arion bank hf. said it repurchased NOK 59 million principal amount of its NOK 500 million 2013/2016 bonds.
The bank bought back the bonds at 102.5, which is a spread of 279 basis points over Nibor, according to a bank notice.
Arion said it received eight offers for a total of NOK 171 million.
Pareto Securities was the manager.
The bank said on Jan. 8 that it mandated Pareto to repurchase up to NOK 150 million principal amount of the bonds.
Pricing was to be set through a bookbuilding process closing at 9 a.m. ET on Jan. 9, according to a previous notice by the Reykjavik, Iceland-based bank.
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