Íslandsbanki announces Termination of Tender Offers for EUR Senior Notes

Íslandsbanki hf. announces the termination of its Tender Offers for its €300,000,000 0.500 per cent. Notes due 20 November 2023 and €300,000,000 Senior Callable Fixed to Fixed Rate Notes due 19 January 2024

"9 November 2022. Further to the announcement dated 7 November 2022, Íslandsbanki hf. (the Offeror) announces today that it has terminated its separate invitations to holders of its outstanding: (i) €300,000,000 0.500 per cent. Notes due 20 November 2023 (ISIN: XS2259867039) (the 2023 Notes); and (ii) €300,000,000 Senior Callable Fixed to Fixed Rate Notes due 19 January 2024 (ISIN: XS1755108344) (the 2024 Notes and, together with the 2023 Notes, the Notes and each a Series) to tender their Notes for purchase by the Offeror for cash (each such invitation an Offer and together the Offers). The purchase of Notes in the Offers was subject to the satisfaction (or waiver) of the New Financing Condition on or prior to the Settlement Date. The Company has today decided to postpone the issue of its previously announced New Notes, and therefore the New Financing Condition is not expected to be satisfied. In accordance with the terms and conditions of the Offers, the Offeror has therefore taken the decision to terminate the Offers today and consequently will not accept any tenders of Notes for purchase. For the avoidance of doubt, the Purchase Prices and the Accrued Interest Payments will not be paid or become payable. Any Notes in respect of which Tender Instructions have been submitted prior to this announcement will be unblocked in the relevant account in the relevant Clearing System. "

Stock Exchange announcement Link.