On 5 March 2024, Landsbankinn concluded the sale of green bonds in the amount of EUR 300 million. This was the Bank’s fourth issuance of euro-denominated green bonds.
The bonds bear a 5.0% fixed rate and were sold at terms equivalent to a 225 basis point spread above mid-swap market rates, the best terms achieved in a euro issuance of any Icelandic bank since 2022. These are just over 4Y bonds, maturing in May 2028.
Subscriptions from over 150 investors in the UK, the Nordics, mainland Europe and Asia exceeded the size of the issuance over six times, amounting to over EUR 2,000 million.
The bonds will be issued under the Bank’s EMTN programme with reference to its Sustainable Finance Framework, which has been verified by Sustainalytics. The aim is to list the bonds on Euronext Dublin as of 13 March 2024.
The issuance was coordinated by ABN AMRO Bank, Barclays Bank, BofA Securities and Goldman Sachs Bank Europe.
