Arion bank has set up a 1 billion euro programme for the issuance of covered bonds. On 25 November 2011, Arion Bank was licensed by the Icelandic Financial Supervisory Authority to issue covered bonds in accordance with the Icelandic Act on Covered Bonds, No. 11/2008, and Rules on Covered Bonds, No. 528/2008. The issue is regulated by the Icelandic Financial Supervisory Authority which also appoints an independent inspector to monitor the issues.
At the end of 2011 Arion Bank took over the issuance of covered bonds which had originally been issued by Kaupthing hf. in 2006 to 2008 amounting to ISK 119.8 billion net outstanding.
The total outstanding covered bond issuance at year end 2016 was ISK 161 bn.
Arion Bank has established a base prospectus for the issue of Euro Medium Term Notes (EMTN) . The programme has been approved by the Luxembourg Stock Exchange. The programme allows Arion Bank to issue notes in the equivalent amount of up to EUR 2 billion in various currencies.Deutsche Bank served as an arranger of the EMTN programme and the following banks are listed as dealers.
Arion Bank has published a base prospectus for a domestic bond programme. The Bank is allowed to issue a wide range of bonds under the programme.
Covered bond offerings will be held on the following dates:
|January||10 January 2018|
|February||8 February 2018|
|March||7 March 2018|
|April||4 April 2018|
|May||2 May 2018|
|June||6 June 2018|
|July||4 July 2018|
|August||1 August 2018|
|September||5 September 2018|
|October||3 October 2018|
|November||8 November 2018|
|December||5 December 2018|
Arion Bank reserves the right to amend this schedule, including by cancelling, increasing the number or changing the offering dates, changing the amount to be issued or making other changes as necessary, without advance notice.