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Landsbankinn HF - Tender Offer 2024 (XS) - Results

LANDSBANKINN HF. (incorporated with limited liability in Iceland) (the “Offeror”) announces the results of its tender offers to the holders of its outstanding €300,000,000 0.500 per cent. Notes due 2024 (the “2024 Notes”) €300,000,000 0.375 per cent. Green Notes due 2025 (the “2025 Notes”) - XS2121467497 - XS2306621934

12 MARCH 2024


Full announcement including disclaimers and offer restrictions available via Euronext

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"Results of the Offers


The Offeror hereby announces the amount of 2024 Notes validly tendered and accepted for purchase, the 2025 Notes Final Acceptance amount and the details of pro rata scaling that shall be applied to the valid tenders of 2025 Notes accepted for purchase pursuant to the 2025 Notes Offer, as set out in the table below:



Settlement


The Settlement Date in respect of the Notes accepted for purchase pursuant to the Offers is expected to be 14 March 2024, after which €84,080,000 of the 2024 Notes and €200,000,000 of the 2025 Notes will remain outstanding.


Notes accepted for purchase will be cancelled and not re-issued or re-sold. Notes that have not been tendered or accepted for purchase pursuant to the Offers will remain outstanding."


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LANDSBANKINN HF. (incorporated with limited liability in Iceland) (the “Offeror”) announces the indicative results of its tender offers to the holders of its outstanding €300,000,000 0.500 per cent. Notes due 2024 (the “2024 Notes”) €300,000,000 0.375 per cent. Green Notes due 2025 (the “2025 Notes”) - XS2121467497 - XS2306621934

12 MARCH 2024


Full announcement including disclaimers and offer restrictions available via Euronext

Scroll below for previous deals related to Landsbankinn


...


"The Offers expired at 4:00 p.m. (London time) on 11 March 2024.


Indicative Results of the Offers


Subject to satisfaction (or waiver) of the New Issue Condition on or prior to the Settlement Date, the Offeror hereby announces, on a non-binding and indicative basis only, in accordance with the terms and subject to the conditions set out in the Tender Offer Memorandum, the amount of 2024 Notes validly tendered and to be accepted for purchase, the level at which it expects to the set the 2025 Notes Final Acceptance amount and the details (if applicable) of any pro rata scaling that will be applied to the valid tenders of 2025 Notes accepted for purchase pursuant to the 2025 Notes Offer as set out in the table below:



2024 Notes


Subject to the satisfaction (or waiver) of the New Issue Condition on or before the Settlement Date, the Offeror intends to accept for purchase all validly tendered 2024 Notes.


2025 Notes


The 2025 Notes Purchase Price and 2025 Notes Purchase Yield is expected to be determined at or around 11.30 a.m. (London time) today (subject to the right of the Offeror to amend such time and date and extend, re-open, amend and/or terminate the 2025 Notes Offer, the “2025 Notes Pricing Time”) in the manner described in the Tender Offer Memorandum.


Results and Settlement


The Offeror will announce the final results of the Offers and pricing as soon as practicable after the 2025 Notes Pricing Time. Such announcement will specify whether the Offeror will accept (subject to satisfaction or waiver of the New Issue Condition on or prior to the Settlement Date) valid tenders of Notes pursuant to the Offers and, if so accepted, the aggregate nominal amount of 2024 Notes validly tendered and accepted for purchase pursuant to the 2024 Notes Offer, the 2025 Notes Final Acceptance Amount, the Interpolated Euro Mid-Swap Rate, the 2025 Notes Purchase Yield, the 2025 Notes Purchase Price and (if applicable) details of any pro rata scaling that will be applied for the 2025 Notes.


The Settlement Date is expected to be 14 March 2024. Subject to satisfaction or waiver of the New Issue Condition (completion of the issue of the New Notes is expected to occur on 13 March 2024) on the Settlement Date, the Offeror shall pay to each Noteholder for such Notes accepted for purchase from such Noteholder the relevant Purchase Price together with the Accrued Interest in respect of such Notes accepted for Purchase.


Notes accepted for purchase will be cancelled and not re-issued or re-sold. Notes that have not been tendered or accepted for purchase pursuant to the Offers will remain outstanding."


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LANDSBANKINN HF. announces Tender Offer for holders of its €300,000,000 0.500 per cent. Notes due 2024 (the “2024 Notes”) and €300,000,000 0.375 per cent. Green Notes due 2025 (the “2025 Notes”) (together, the “Notes” and each a “Series”) - XS2121467497 - XS2306621934


04 MARCH 2024


Full announcement including disclaimers and offer restrictions available via Euronext

Scroll below for previous deals related to Landsbankinn


LANDSBANKINN HF. (incorporated with limited liability in Iceland) (the “Offeror”) to the holders of its €300,000,000 0.500 per cent. Notes due 2024 (the “2024 Notes”) €300,000,000 0.375 per cent. Green Notes due 2025 (the “2025 Notes”) (together, the “Notes” and each a “Series”) to tender such Notes for purchase by the Offeror for cash (in respect of the 2025 Notes, up to the 2025 Notes Final Acceptance Amount (as defined below)), in each case subject to the satisfaction or waiver of the New Issue Condition (as defined herein) and the other conditions described in the Tender Offer Memorandum on the following terms (the invitation in respect of the 2024 Notes, the “2024 Notes Offer”, and the invitation in respect of the 2025 Notes, the “2025 Notes Offer” and together the “Offers”, and each an “Offer”)


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"Rationale and Background for the Offers


The purpose of the Offers is to proactively manage the Offeror’s balance sheet. Concurrent to the Offers, the Offeror announced its intention to issue euro-denominated senior preferred fixed rate notes, the proceeds of which are to be used in accordance with the terms of the Offeror’s Sustainable Finance Framework (available at https://www.landsbankinn.is/en/the-bank/investor-relations/sustainable-finance). Each Offer begins on 4 March 2024 and will expire at 4.00 p.m. (London time) on 11 March 2024, unless either or both the Offers are extended, re-opened, amended and/or terminated as provided in the Tender Offer Memorandum. The expected Settlement Date for the Offers is 14 March 2024 (subject to the Offeror’s right to extend, re-open, amend or waive any condition of and/or terminate either Offer)."


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LANDSBANKINN HF announces the results of a tender offer to the holders of its €300,000,000 0.500 per cent. Notes due 2024 (the “Existing Notes”) to tender any and all of their Existing Notes for purchase by the Offeror for cash subject to the satisfaction or waiver of the New Issue Condition (such invitation, the “Offer”)

12 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Euronext


...


"The Offer expired at 4.00 p.m. (London time) on 11 September 2023.


Results of the Offer


Subject to satisfaction or waiver of the New Issue Condition on or prior to the Settlement Date, the Offeror is pleased to announce the results of the Offer and acceptance of the valid tenders of Existing Notes pursuant to the Offer as follows: "



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LANDSBANKINN HF ANNOUNCES TENDER OFFER ON ITS 2024 NOTES

04 SEPTEMBER 2023


Full announcement including disclaimers and offer restrictions available via Euronext



"invitation by LANDSBANKINN HF.

(incorporated with limited liability in Iceland)

(the “Offeror”)

to the holders of its €300,000,000 0.500 per cent. Notes due 2024 (the “Existing Notes”) to tender any and all of their Existing Notes for purchase by the Offeror for cash subject to the satisfaction or waiver of the New Issue Condition (as defined herein) (such invitation, the Capitalised terms used in this announcement shall have the meaning given to them in the tender offer memorandum dated 4 September 2023 (the “Tender Offer Memorandum”) unless defined otherwise herein. "


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"Rationale and Background for the Offer


The purpose of the Offer is to proactively manage the Offeror’s balance sheet. Concurrent to the Offer, the Offeror announced its intention to issue euro-denominated senior preferred fixed rate notes with an expected maturity date in 2027, the proceeds of which are to be used in accordance with the terms of the Offeror’s Sustainable Finance Framework (available at https://www.landsbankinn.is/en/the-bank/investorrelations/sustainable-finance). 2 The Offer begins on 4 September 2023 and will expire at 4.00 p.m. (London time) on 11 September 2023, unless the Offer is extended, re-opened, amended and/or terminated as provided in the Tender Offer Memorandum. The expected Settlement Date for the Offer is 13 September 2023 (subject to the Offeror’s right to extend, re-open, amend or waive any condition of and/or terminate the Offer)."


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