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REYKJAVIK - The Republic of Iceland has successfully completed a tender offer for its €500 million 0.625% notes due June 3, 2026, accepting €203.7 million in aggregate nominal amount for purchase. The offer, which was first announced on May 19, 2025, closed with the expiration deadline on May 23, 2025.
Investors who tendered their notes will receive a purchase price of 98.810% of the nominal amount. In addition to the purchase price, the Offeror will also pay accrued interest on these notes. The settlement of the offer is expected to occur on May 28, 2025.
Following the settlement, there will be €296.29 million of the notes remaining outstanding. The tender offer was conducted in accordance with the terms set forth in the Tender Offer Memorandum dated May 19, 2025.
The Dealer Managers for the transaction were Barclays (LON:BARC) Bank Ireland PLC, Citigroup (NYSE:C) Global Markets Europe AG, and J.P. Morgan SE.
This financial move by Iceland is part of the country’s active debt management strategy and demonstrates its ability to navigate the capital markets effectively. The tender offer allows the Offeror to manage its debt obligations by repurchasing a portion of the outstanding notes before maturity, potentially leading to a reduction in future interest expenses.
The information provided in this article is based on a press release statement.
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