|
|
|
|
|
Reykjavik, Mar 19, 2008 - (ACN Newswire) - Glitnir successfully issued and sold an ISK 15bn ($200m) five year mandatory convertible bonds in a closed offering to Icelandic institutional investors, which commenced on 12 March ending yesterday. The bonds are subordinated and count as Tier 1 capital and strengthen the bank's capital ratio considerably. Glitnir Capital Markets was sole manager of the offering.
Glitnir CEO, Lárus Welding, was pleased with the successful issue. "The convertible issue was successfully concluded in the face of uncertain market conditions and demonstrates investors trust in Glitnir's underlying operation and credit. The issue was focused on Icelandic institutional investors which know the bank, in particular the pension funds, and was well received by the market", said Lárus Welding.
The bonds will convert into shares in Glitnir banki hf in five years. The issue of the bonds and the authorisation for the increase in share capital is subject to the approval of a shareholders' meeting, which will be held on 19 March 2008 at Glitnir banki hf. headquarters.
Contact:
Bjørn Richard Johansen
Managing Director,
Global Corporate Communication,
Mobile +47-47 800 100,
E-mail: brj@glitnir.no
Vala Pálsdóttir,
Head of IR,
Mobile: +354 440 4989,
Mobile: +354 844 4489,
E-mail: vala.palsdottir@glitnir.is
Topic: Awards
Source: Glitnir Bank
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2025 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
|
|
|
