Landsbankinn, one of Iceland's largest lenders, priced a EUR 300 million five-year green bond at a coupon of 4.0 per cent on Tuesday, drawing orders of more than EUR 1,650 million from over 100 investors.
The transaction, priced at mid-swaps plus 110 basis points, was issued under Landsbankinn's Sustainable Finance Framework, which has been reviewed by Sustainalytics. Proceeds are earmarked for eligible green assets in line with the framework.
ORDER BOOK STRETCHES ACROSS REGIONS
The order book of more than EUR 1,650 million from over 100 investors implies significant oversubscription, with demand drawn from the United Kingdom, the Nordics, Continental Europe and Asia, according to the bank's investor relations announcement.
The bonds were issued under Landsbankinn's EMTN programme.
Barclays, BofA Securities, Citi and JP Morgan acted as joint lead managers on the transaction.
GREEN LABEL UNDER SUSTAINABLE FRAMEWORK
The bond is being issued under Landsbankinn's Sustainable Finance Framework, which has been reviewed by second-party opinion provider Sustainalytics.
The order book included investors from the United Kingdom, the Nordic region, continental Europe and Asia.
The bond is scheduled to be admitted to trading on Euronext Dublin on 12 May 2026.
Landsbankinn announced the transaction details in a stock exchange announcement on 5 May 2026.
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