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Arion Bank hf.: Arion Bank issues EUR 300 million senior preferred notes

MARKN.

Today, Arion bank issued a EUR 300 million senior preferred notes. The notes have a maturity of 3 years and pay a coupon of 7.25% which corresponds to a spread of 407bp over mid-swaps.

The strong demand from investors saw a return of investor diversification for Arion Bank in the international bond market. The final orderbook stood firm at EUR 600m+ from over 70 individual accounts from more than 15 countries across Europe and Asia.

The transaction was launched in combination with a tender offer, announced on 15 May 2023, to holders of the Bank’s outstanding EUR 300 million notes due 27 May 2024 (ISIN: XS2262798494).

Joint Lead Managers for the transaction were Barclays, Deutsche Bank and UBS.

For any further information please contact:

Theodór Friðbertsson, Head of Investor Relations at Arion Bank, ir@arionbanki.is, tel. +354 856 6760 or Eirikur Dor Jonsson, Head of Treasury at Arion Bank, eirikur.jonsson@arionbanki.is, tel. +354 856 7171

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Arion Bank hf.: Arion Bank issues EUR 300 million senior preferred notes

Datum 2023-05-16, kl 18:07
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Arion Bank hf.: Arion Bank issues EUR 300 million senior preferred notes
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