Fossar to manage Reykjavik Energy‘s green bond auction

1.4.2019

Reykjavik Energy (OR) has decided to conduct an auction of Green Bonds on Thursday, March 4. Fossar Markets will manage the auction.

The offered series OR 180255 GB will be admitted to trading on Nasdaq Iceland Sustainable Bond market. The series is an indexed annuity with payments twice a year and will mature on February 18, 2055. The series was first issued in February, when bonds in the amount of ISK 3.258m were sold at a yield of 2.60%.

The offer will be closed with a single-price method where all bonds will be sold at the highest yield accepted. Reykjavik Energy 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. Minimum bid for the auction is ISK 20.000.000.

What are green bonds?
Green bonds are bonds that are issued in order to fund projects that reduce the greenhouse gas emissions and therefore counteract global warming and its hazards. Public and private efforts to prevent climate change, in addition to increased awareness among investors has driven the issuance of green bonds.

All issuers that invest in environmentally friendly projects can issue green bonds; governments, municipalities and companies.