Arion Bank hf.: Covered Bond Auction on October 2nd 2024.
Arion Bank will offer ISK-denominated covered bonds in a new series, ARION CBI 28, on Wednesday, October 2nd 2024.
ARION CBI 28 is an index-linked covered bond series with a fixed 4.25% interest rate, maturing on September 20th 2028.
The bonds will be offered in a single-price auction, where all accepted offers will be awarded at the highest accepted yield. Arion Bank reserves the right to accept or reject offers in part or in whole.
In connection with the auction, a covered bond exchange offering will take place. Holders of the covered bond ARION CBI 25 will have the opportunity to exchange the series for covered bonds in the aforementioned auction. The clean price of the exchange offering is 99.2786.
The expected settlement date is on October 9th 2024. Both cash and ARION CBI 25 exchange offering proceeds will be accepted as payment.
The auction is managed by Arion Bank Capital Markets. Offers shall be submitted before 16:00 GMT on October 2nd 2024 by email to [email protected].
