Fossar Markets will manage an auction for Reykjavik city next Wednesday, March 6


Reykjavik City will conduct a bond auction next Wednesday, March 6.

The maximum issuance of 2019 is 5.5bn ISK and no borrowings have taken place this year.

Outstanding amount for RVKG 48 1 prior to this auction is ISK 4,100 m. nominal. The series is indexed annuity with payments twice a year and will mature October 21, 2048.

The purpose of the auction is to finance green investment projects in accordance with Reykjavik City‘s green bond framework. The framework conforms to the „green bond principles“, guidelines put forward by ICMA, the International Capital Market Association.

CICERO (Center for International Climate Research) has issued an independent review of the framework and has rated it with the highest possible rating of „dark green“ for positive environmental affects of the projects and a rating of „excellent“ for the governance structure of the framework.

The offer will be closed with a Dutch method where all bonds will be sold at the highest yield accepted. Reykjavik city reserves the right to accept any offer partially or in full, or refuse all offers.
Results of the offering will be officially published no later than the next business day.