On Tuesday 13 March, Arion Bank issued new 5 year senior unsecured bonds for a total of €300 million. The bond issue was oversubscribed, orders were received from over 40 investors with total demand around €375 million.
The bonds have a fixed coupon of 1.0% and were sold at rates corresponding to a 0.65% margin over interbank rates. In addition the Bank is subject to an Icelandic bank tax of 0.376% of p.a. Arion Bank mandated Barclays, Citi and Deutsche Bank for the transaction.
For further information please contact Haraldur Gudni Eidsson of Arion Bank’s Communications division at [email protected], or tel. +354 444 7108.
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