Arion Bank has today concluded a Tier 2 floating rate note issuance totaling 225 million Swedish krona. The notes are callable in December 2024 with final maturity in December 2029. The notes were priced at a spread of Stibor +370.
The Tier 2 notes are eligible as Tier 2 capital under the Icelandic Financial Undertakings Act No. 161/2002. The Tier 2 note issue strengthens the Bank's own funds and is milestone towards reaching a more optimal capital structure.
The notes are scheduled to be admitted to trading on the Luxembourg Stock Exchange on 20 December 2019.
The bookrunner on the transaction is Swedbank.
For further information please contact Theódór Fridbertsson, head of Arion Bank's investor relations, at ir@arionbanki.is, tel. +354 444 6760.