Orkuveita Reykjavíkur - Company Announcement

Orkuveita Reykjavíkur - Bond Issue Results

Reykjavík, 2016-11-23 23:16 CET (GLOBE NEWSWIRE) -- On Wednesday, November 23rd
2016, Orkuveita Reykjavíkur (OR; Reykjavík Energy) issued two new bonds in two
bond offerings. The investment banking division at Arion Bank managed the issue
and introduced it to investors. In the auction, indexed 30 year annuity bonds
were offered in the OR090546 category, as well as 6 year coupon bonds in a new
category, OR01122. 

OR decided to accept offers for a total amount of ISK 1.950 million and issue
bonds in the OR090546 category for ISK 1.450 million at a yield of 3,39% and
for ISK 500 million at a yield of 5,99%. Total offers amounted to ISK 2.960
million at a yield between 3,29 – 3,44% for the indexed annuity bonds and a
yield between 5,94-6,40% for the coupon bonds. 

Payment, issue and delivery of bonds is planned on December 1st 2016. 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 4.011.724.833 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