Arion Bank buys back outstanding amount of Kaupthing notes

On 30 June Arion Bank bought back the outstanding amount of notes held by Kaupthing. The issue of these notes formed a part of the arrangements for the liberalization of capital controls in Iceland. The notes amounted to USD 747,481,000 when they were issued at the beginning of 2016. The outstanding amount which Arion Bank bought back to today amounts to USD 100,000,000. The buyback is part of Arion Bank’s liquidity and liability management programme.