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REYKJAVIK - Landsbankinn hf., an Icelandic bank, raised ISK 4.02 billion ($29.4 million) in a covered bond auction on Thursday, according to a press release statement from the company.
The bank sold ISK 1.9 billion in its LBANK CB 29 series at a yield of 7.56%, after receiving six bids with yields ranging from 7.51% to 7.56%. Following this issuance, the total amount in this series will reach ISK 21.46 billion.
In the LBANK CBI 31 series, the bank accepted all five bids totaling ISK 2.12 billion at a yield of 3.76%. Bids for this series came in with yields between 3.75% and 3.76%. The total amount issued in this series will now be ISK 12.96 billion.
Settlement for both bond series is scheduled for June 19, 2025.
The covered bonds are rated A+ with a stable outlook by S&P Global Ratings and are issued under the authorization of 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.
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