Arion Bank hf. - Company Announcement

Arion Bank prepares euro bond issue

Arion Bank has engaged Citi, Deutsche Bank and Nomura to arrange meetings with
European investors which will be held over the next few days. Arion Bank will
then aim to complete a euro-denominated bond issue subject to market
conditions. These meetings with investors are the logical next step in the
ongoing process in recent years to diversify the Bank's funding base and to
open access to the international credit markets. 

In early 2013 Arion Bank issued bonds in Norwegian kroner and by doing so
became the first Icelandic bank to raise foreign funding since 2007. At the
beginning of this year the Bank obtained the rating BB+ from the international
ratings agency Standard & Poor's, the first Icelandic bank to do so. This
rating significantly increased the number of investors potentially interested
in bonds issued by the Bank. 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR
INTO THE UNITED STATES OF AMERICA. 



For further information please contact Haraldur Gudni Eidsson of Arion Bank's
Communications division at haraldur.eidsson@arionbanki.is, or tel. +354 856
7108.

Attachments:

Press Release 14 April 2014.pdf