Orkuveita Reykjavikur to auction new 15-year green bonds on Aug. 27

By Sarah Lizee

Olympia, Wash., Aug. 14 – Orkuveita Reykjavikur will sell new 15-year inflation-linked green bonds through an auction on Aug. 27, according to a company news release.

The bonds pay a fixed real interest rate and will be listed on the Nasdaq Iceland Sustainable Bond market.

The series has a semiannual annuity amortization schedule and a final maturity on Sept. 2, 2034.

Fossar Markets is managing the auction process.

The auction will be structured as a single-price auction, which means that all accepted bids will be sold to investors at the same price where the lowest accepted price (highest yield) will determine the selling price.

The company reserves the right to accept all of the submitted bids, accept part of them or reject all of them. The total amount of accepted bids will be announced after the auction.

The energy and utility company is based in Reykjavik, Iceland.

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