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2015-12-21 15:37:13 CET 2015-12-21 15:37:13 CET REGULATED INFORMATION Arion Bank hf. - Company AnnouncementIssuance schedule of Arion Bank for 2016Covered bonds -- Arion Bank aims to issue ISK 20-33 billion of domestic benchmark covered bonds in 2016. -- The benchmark covered bond series are the indexed series ARION CBI 21 and ARION CBI 29 and the non-indexed series ARION CB 22. -- The minimum size of each benchmark series is ISK 10 billion but the final size will depend on market conditions and other factors. New benchmarks may be added in 2016. -- Covered bond offerings will be held every month. Offerings will be held on the first Wednesday of every month and settlement will be one week later – see dates below. -- Landsbankinn, Íslandsbanki and Kvika are market makers for the covered bonds. The market makers will submit bids and asks for the bonds every day. The minimum offers at nominal value for benchmark series shall be ISK 80 million and the minimum amount for other series shall be ISK 20 million. In the case of benchmark series, if the outstanding nominal value is less than ISK 10 billion, the total offers shall be ISK 60 million. If the series is more than ISK 10 billion offers shall be ISK 80 million. Commercial paper -- Arion Bank will continue its monthly offerings of commercial papers. Offerings will take place in mid-month and settlement is usually on the 20th day of each month. The total issue of commercial papers is undetermined and will be dictated by market conditions. EMTN and other funding -- The Bank intends to regularly issue abroad through its Euro Medium Term Note (EMTN) program. The Bank will work towards gaining better access to the international markets in the future. However, issues in foreign currencies depend on the conditions on the market at any given time. -- Arion Bank plans to diversify its funding and will examine other funding options and add to its funding channels if it suits the Bank. The Bank may therefore issue unsecured bonds, subordinated bonds or covered bonds in foreign currencies and/or Icelandic krónur if there is sufficient demand from investors. The amounts and timing of such funding depend on the market conditions and the general interest of investors. Covered bond offerings will be held on the following dates: 6 January 2016 3 February 2016 2 March 2016 6 April 2016 4 May 2016 1 June 2016 6 July 2016 10 August 2016 7 September 2016 5 October 2016 2 November 2016 7 December 2016 Arion Bank reserves the right to amend this schedule, including by cancelling, increasing or changing the offering dates, changing the amount scheduled to be issued or making other changes as necessary, without advance notice. |
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