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

OR Auctions Indexed and Nominal Bonds on February 28th

Reykjavik, 2017-02-22 15:29 CET (GLOBE NEWSWIRE) -- Tuesday February 28th 2017
Orkuveita Reykjavíkur will conduct an auction of new bonds in three bonds
issues as can be seen below, they have all been admitted for trading on Nasdaq
Iceland. 

Category OR090546: Indexed annuities to almost 29 years. Previously issued
bonds with a nominal value of ISK 5,461,724,833. 

Category OR090524: Indexed annuities to almost 7 years. Previously issued bonds
with a nominal value of ISK 1,088,000,000. 


Category OR011222: coupons for almost 6 years. Previously issued bonds with a
nominal value of ISK 500,000,000 

The investment banking division at Arion Bank is managing the issue and will
introduce it to possible investors. The issue will be closed with a so-called
„Dutch Method“, where all bonds will be sold at a highest coupon accepted for
each tranche. Orkuveita Reykjavíkur reserves the right to accept offers
partially or in full, or refuse all offers. 

Results of the bond auction will be officially announced the next business day.


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