Fossar Coordinator in City of Reykjavik bond issuance
The City of Reykjavík has completed a private placement for the bond series RVKN 35 1 and RVK 44 1.
For the bond series RVK 44 1, bonds were sold for a total nominal amount of ISK 960 million at a yield of 4.11%. The outstanding amount prior to the offering was ISK 9,010 million, including treasury bonds of ISK 800 million held by the City of Reykjavík for market-making purposes. The total size of the series is now ISK 9,970 million nominal.
For the bond series RVKN 35 1, bonds were sold for a total nominal amount of ISK 4,645 million at a yield of 8.71%. The outstanding amount prior to the offering was ISK 38,530 million, including treasury bonds of ISK 960 million held by the City of Reykjavík for market-making purposes. The total size of the series is now ISK 43,175 million nominal.
The issuance was carried out as a private placement and was exempt from the requirement to publish a prospectus pursuant to Article 1(4)(b) of Regulation (EU)
2017/1129 of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market.
Fossar Investment Bank hf. managed the issuance, and an application will be made for the new bonds to be admitted to trading on the Main Market of Nasdaq Iceland.
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