Icelandic lender Landsbankinn hf. will auction non-indexed covered bonds Nov. 10 and offer holders of an inflation-linked series an exchange for securities bought in that sale.
The exchange offer applies to LBANK CBI 26. Participating holders can tender those bonds for covered bonds purchased at the auction, which will feature the non-indexed LBANK CB 32 series.
The auction bonds have a clean price of 100, and Landsbankinn expects settlement on Nov. 17. The sale is part of the bank’s covered bond program. S&P Global Ratings rates Landsbankinn’s covered bonds A+ with a positive outlook, and the bank’s Capital Markets unit will run the auction.
