Orkuveita Reykjavíkur - Company Announcement

OR Auctions Indexed and Nominal Bonds on November 23rd

Reykjavík, 2016-11-16 22:25 CET (GLOBE NEWSWIRE) -- Wednesday November 23rd
2016, Orkuveita Reykjavíkur will conduct an auction of two new bonds in two
bond issues. First, indexed annuity bonds with a maturity of 30 years, which is
a tap on previous bonds in the OR090546 category. A total of ISK 4.011.724.833
have previously been issued in the OR090546 category. Secondly, OR plans to
issue coupon bonds with a maturity of 6 years in a new bond issue OR011222. 

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