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| Prospect News home > News index > List of issuers I > Headlines for Islandsbanki hf. > News item |
Islandsbanki announces purchase program for its 1.75% notes due 2020
By Sarah Lizee
Olympia, Wash., May 12 – Islandsbanki hf announced that it has authorized a purchase program under which it may purchase through open market purchases or private transactions its €56.28 million of 1.75% notes due Sept. 7, 2020 (ISIN: XS1484148157).
The program is being carried out to manage liquidity in advance of the notes being repaid from existing cash reserves, the company said.
The company will determine in its sole discretion the amount of notes to be repurchased under the program.
Any notes repurchased by the company under the program will be cancelled.
Any purchase will be made on a bilateral basis agreed between the company and the respective noteholder.
The manager of the program is Deutsche Bank AG, London Branch (+44 20 7545 8011).
The bank is based in Reykjavik, Iceland.
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