Landsbankinn hf. received 17 bids totaling ISK 6.5 billion at its Nov. 10 covered-bond auction, but no holders offered bonds in a linked exchange, the Icelandic bank said.
Under the offer, Landsbankinn set a clean price of 100 for LBANK CBI 26 and used covered bonds acquired in the auction as the exchange consideration. The bank said no offers were submitted in the exchange in its Nov. 11 results announcement.
The auction featured non-indexed LBANK CB 32 bonds, a series separate from LBANK CBI 26. The 17 bids, worth a combined ISK 6.5 billion, were for LBANK CB 32.
Landsbankinn had given Nov. 17 as its expected settlement date, as outlined in EconoTimes' earlier report on the planned auction and exchange.
