Arion Bank hf.: Arion Bank issues EUR 300 million senior preferred notes
Today, Arion bank issued a EUR 300 million senior preferred notes. The notes have a maturity of 4.5 years and pay a coupon of 4.625% which corresponds to a spread of 175bp over mid-swaps.
The deal was more than 8.5 times oversubscribed with orders received from more than 190 investors spanning over 25 countries across EMEA and APAC. Final books stood around €2.6bn.
The strength of the orderbook allowed Arion Bank to print the tightest Icelandic bank EUR Senior Preferred instrument in over 2-years.
The Dealer Managers were Barclays, Morgan Stanley, ABN Amro and JP Morgan.
