KVIKA Kvika banki hf

Kvika banki hf.: Increase in issue of KVB 19 01 and KVB 20 01

Kvika banki hf.: Increase in issue of KVB 19 01 and KVB 20 01

Today Kvika banki hf. held closed auction for the bond series KVB 19 01 and KVB 20 01. Total accepted bids amounted to ISK 1.360 million.



For the bond series KVB 19 01 the increase in issue is ISK 700 million where KVB 19 01 is a five year senior unsecured bond with monthly installments and interests payments. The bond is priced at par with variable interests of REIBOR 1 month with 1.50% spread. Prior to the sale the bank had issued ISK 3.640 million in the series and as of today the total issue size is ISK 4.340 million. Total issue size of KVB 19 01 is limited to ISK 5.000 million.



For the bond series KVB 19 01 the increase in issue is ISK 660 million where KVB 20 01 is a three year senior unsecured bonds and pay variable interests REIBOR 1 month with 0,85% spread. The bonds are puttable by investors at any time. Investor‘s exercise of the put results in buyback by the issuer with a settlement date on the next interest day eight months after the issuer is noticed of exercise. Prior to the today sale the bank had issued ISK 1.500 million in the series and as of today the total issue size is ISK 2.160 million. Total issue size in the series is limited to ISK 5.000 million.



The new bonds in the series will be admitted to trading on Nasdaq Iceland in next week.



EN
19/11/2020

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