Prepayment of Landsbankinn bonds

Landsbankinn hf. announced today that it will issue EUR 500 million of senior unsecured bonds under its EMTN program. The bonds will be listed on the Irish Stock Exchange on 15th September.


Part of the proceeds from this issuance will be used to fully prepay to LBI the Landsbankinn EUR bonds series 2022 and series 2026 which have a combined nominal outstanding of EUR 364 million. In addition, LBI expects to receive the USD equivalent of approximately EUR 20 million into the USD bond series 2020. Landsbankinn will use the remaining proceeds to strengthen the bank's liquidity.


LBI is anticipating to announce an unscheduled payment of the Convertible Notes soon and to subsequently pay available cash (including proceeds from Landsbankinn’s bond refinancing) towards the Notes.


For further information please contact Halldór Sigurjónsson, ir@lbi.is.

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