May 08 2018
Results of additional issuance of Treasury bonds RIKB 28 1115 and RIKB 22 1026

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 4 May, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase in RIKB 28 1115 for 120 m.kr. and in RIKB 22 1026 for 142 m.kr. Total outstanding nominal value of RIKB 28 1115 after the auction is now 53,868,601,519 kr. and RIKB 22 1026 is now 81,602,800,000 kr. Settlement date is 9 May 2018.

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Moody’s changes Iceland’s outlook to positive from stable and affirms A3 ratings

Moody’s Investors Service ("Moody’s") has today changed the Government of Iceland's sovereign rating outlook to positive from stable and affirmed Iceland’s A3 long-term issuer rating. The government's long-term senior unsecured debt rating of A3 and the (P)A3 and (P)Prime-2 ratings assigned to its medium-term note (MTN) programme have also been affirmed. 

The key drivers for the change in the rating outlook to positive from stable are: 

  1. Improving economic resilience afforeded by net external creditor position, more balanced growth and ongoing strengthening of the country‘s banking system. 
  1. Anticipated further improvement in the government‘s debt metrics beyond what was previously expected. 

The positive outlook also reflects progress made in the past two years on the major preconditions we laid out at the time of the upgrade to A3 in September 2016, including the smooth removal of capital controls and the settlement of the offshore krónur situation.

Report

Result of the purchase of nominal Treasury bond RIKB 19 0226 in switch auction

Switch auction was conducted at Government Debt Management at 11:00 am today, where nominal Treasury bonds in the series RIKB 20 0205 and in RIKB 28 1115 where offered for sale for purchase of RIKB 19 0226.

 

The main result of purchase in RIKB 19 0226 against sale of RIKB 20 0205 were:

Number of bids in series RIKB 20 0205 were 5, amounting to 1,976 m.kr. nominal value

5 bids were accepted for 1,976 m.kr. nominal value

Price allocated is 101.855

Total purchased in RIKB 19 0226 was 1,952 m.kr. nominal value

 

The main result of purchase in RIKB 19 0226 against sale of RIKB 28 1115 were:

Number of bids in series RIKB 28 1115 were 6, amounting to 950 m.kr. nominal value

5 bids were accepted for 800 m.kr. nominal value

Price allocated is 97.150

Total purchased in RIKB 19 0226 was 759 m.kr. nominal value