Islandsbanki hf.: Íslandsbanki announces Tender Offer for EUR Notes

Íslandsbanki hf. has today announced an invitation to holders of its outstanding EUR500,000,000 1.750 per cent Notes due 7 September 2020 to tender their Notes for purchase by the Bank for cash payment.
The offer is part of Íslandsbanki’s continuing effort to maintain a strong balance sheet position while efficiently applying surplus liquidity.The Offer is being made on the terms and subject to the conditions contained in the Tender Offer Memorandum dated 29 November 2019 and is subject to the offer restrictions set out and as more fully described in the Tender Offer Memorandum.Further information on the tender offer is available in the announcement made public on the Irish Stock Exchange ( where the bonds are listed. Copies of the Tender Offer Memorandum are (subject to distribution restrictions) available from the Tender Agent: Lucid Issuer Services Limited (tel: +44 20 7704 0880; email: Capitalised terms used in this announcement but not defined have the meaning given to them in the Tender Offer Memorandum.The Tender offer will expire at 5 p.m. GMT on 6 December 2019. The results of the tender will be announced on 9 December and the expected settlement date is 11 December.The Dealer Managers are NatWest Markets and UBS.Further information:  Investor relations –
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About Íslandsbanki
A leader in financial services in Iceland, Íslandsbanki is a universal bank with total assets of ISK 1,234bn and a 25% – 50% market share across all domestic business segments. Building on over 140 years of servicing key industries, Íslandsbanki has developed specific expertise in tourism, seafood and energy related industries. Driven by the vision to be #1 for service, Íslandsbanki’s relationship banking business model is propelled by three business divisions that manage and build relationships with the Bank’ s customers. Íslandsbanki has developed a wide range of online services such as the Íslandsbanki and Kass apps, enabling customers to do their banking whenever and wherever. At the same time, the Bank continues to operate the most efficient branch network in Iceland through its strategically located 14 branches. For the sixth consecutive year, Íslandsbanki led the Icelandic Customer Satisfactory Index for banks in 2018. Íslandsbanki has a BBB+/A-2 rating from S&P Global Ratings.
This press release may contain “forward-looking statements,” involving uncertainty and risks that could cause actual results to differ materially from results expressed or implied by the statements. Íslandsbanki hf. undertakes no obligation and does not intend to update these forward-looking statements to reflect events or circumstances occurring after this press release. It is the investor’s responsibility to not place undue reliance on these forward-looking statements which only reflect the date of this press release. Forward-looking statements should not be considered as guarantees or predictions of future events and all forward-looking statements are qualified in their entirety by this cautionary statement.