Orkuveita Reykjavíkur - Other information disclosed according to the rules of the Exchange

OR - Bond Issue Results

Reykjavík, 2017-02-28 23:27 CET (GLOBE NEWSWIRE) -- On Tuesday, February 28th
2017, Orkuveita Reykjavíkur (OR; Reykjavík Energy) issued three bonds in bonds
offerings. The investment banking division at Arion Bank managed the issue and
introduced it to investors. In the auction, indexed to 29-year annuity bonds
were offered in the OR090546 category, an indexed to 7-years annuity bonds in
the OR090524 category and a 6-year coupon bonds in a category, OR01122. 

OR decided to accept offers for a total amount of ISK 2,000 million and issue
bonds in the OR090546 category for ISK 1,050 million at a yield of 3.25%, in
the category OR090524 for ISK 600 million at yield of 3.39% and in category
OR011222 for ISK 350 million at a yield of 5.60%. Total offers amounted to ISK
3,160 million at a yield between 3.21-3.38% for the OR090546 category, a yield
between 3.39-3.40% for the OR090524 category and a yield between 5.60-5.79% for
the coupon bonds OR011222. 

Payment, issue and delivery of bonds is planned on Marts 3rd 2017. A request
will be made that the bonds will be accepted for trading at the Icelandic Stock
Exchange, Nasdaq Iceland, on the same day but first day of business with the
bonds will be announced with at least one day notice. In the OR090546 category,
a total amount of ISK 5,461,724,833 kr., in the OR090524 category a total
amount of ISK 1,088,000,000 kr. and in the OR011222 category a total amount of
ISK 500,000,000 kr., has already been issued and traded on the Icelandic Stock
Exchange. 


         Contacts:
         
         Ingvar Stefánsson, Chief Financial Officer.
         Tel. 516-6100, e-mail: ingvar.stefansson@or.is
         
         Brynja Kolbrún Pétursdóttir, Head of Treasury, Planning and Analysis.
         Tel. 516-6100, e-mail: brynja.kolbrun.petursdottir@or.is
         
         Birgir Guðfinnsson, investment banking division at Arion Bank hf.
         Tel. 444-7337, e-mail: verdbrefamidlun@arionbanki.is