Additional Issuance of Bonds
28. aug 2019
Orkuveitan
On August 14th Orkuveita Reykjavíkur signed an agreement with Arion Banki hf., Íslandsbanki hf., Landsbankinn hf. and Kvika Banki hf. to be designated market makers of a new index linked green bond series, OR020934 GB
According to the agreement, each market maker had the right to purchase a total nominal amount of ISK 100m in the series, at the agreed price in the bond auction held on August 27th 2019.
Today, the market makers exercised their right to purchase OR020934 GB for a total nominal amount of ISK 260m at a yield of 1.79%. The settlement date for the transactions is September 2nd. The bonds will be listed on the NASDAQ Iceland Sustainable Bond market.
OR will additionally issue bonds in the new series for a total nominal amount of ISK 400m that will not be sold to investors. The additional issuance is done so OR can meet its bond lending obligations under the previously mentioned market making agreement.
Total outstanding nominal value of OR020934 GB after the additional issuance will be 2,700,000,000.
