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Islandsbanki hf.: Outcome of additional issuance of ISLA CB 23

According to article 2 of the market making agreement between Íslandsbanki hf. and Arion banki hf., Kvika banki hf. and Landsbankinn hf. market makers have the right to buy up to 10% of the nominal amount sold in an auction to market makers until 12 o'clock the following day.

According to article 2 of the market making agreement between Íslandsbanki hf. and Arion banki hf., Kvika banki hf. and Landsbankinn hf. market makers have the right to buy up to 10% of the nominal amount sold in an auction to market makers until 12 o'clock the following day.

Yesterday Íslandsbanki completed an auction of covered bonds. At this time market makers bought ISK 20m of ISLA CB 23 at the nominal yield of 6.90% which equals the price of 97.6700. Following this additional sale the total size of ISLA CB 23 is ISK 6.88bn and total outstanding covered bonds issued by Íslandsbanki will amount to ISK 51.52bn. Trading is expected to commence on 8 December 2015 on Nasdaq Iceland.