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REYKJAVIK - Landsbankinn hf. accepted bids totaling ISK 1.5 billion (approximately $10.9 million) in its covered bond auction held Wednesday, according to a press release from the Icelandic bank.
The auction featured two bond series. In the LBANK CB 29 series, the bank received four bids amounting to ISK 2.42 billion with yields ranging from 7.77% to 7.81%. Landsbankinn accepted ISK 500 million at 7.77% yield, bringing the total issuance in this series to ISK 21.96 billion.
For the LBANK CBI 31 series, four bids totaling ISK 1.2 billion were submitted with yields between 3.73% and 3.76%. The bank accepted ISK 1 billion at 3.76% yield, increasing the total amount issued in this series to ISK 13.96 billion.
Settlement for both bond series is scheduled for July 9, 2025.
The covered bonds are rated A+ with a stable outlook by S&P Global Ratings and are issued under a license from Iceland’s Financial Supervisory Authority, in accordance with Act No. 11/2008 and FME’s rules No. 190/2023.
Arion banki, Islandsbanki, and Kvika serve as market makers for Landsbankinn’s covered bonds.
Landsbankinn is one of Iceland’s largest financial institutions. The bank’s covered bonds program represents part of its broader funding strategy in the Icelandic market.
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