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Kvika banki hf.: Offering of Tier-2 bonds on 5 December

Written by Customer Service on . Posted in Public Companies.

Kvika will offer Tier-2 subordinated bonds in a new series, KVIKA 31 1211 T2i, for sale today, Tuesday 5 December. The subordinated bonds will be issued under Kvika’s EMTN programme and listed on Nasdaq Iceland.

The subordinated bonds are index linked and have an annual coupon of 6.25%. The maturity of the bonds is 11 December 2034 and are callable by the issuer call at the interest payment date of 11 December 2029 and on every subsequent interest payment date.

The subordinated bonds are offered at par. On offer now is ISK 2,000 million where total issuance in the series is limited to ISK 4,000 million.

Capital Markets at Kvika manages the auction and bids will be received through the email markadsvidskipti@kvika.is until 16:00 GMT on Tuesday 5 December.

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