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Glitnir Banki hf issues USD500m bonds.

NORDIC BUSINESS REPORT-13 June 2006-Glitnir Banki hf issues USD500m bonds(C)1994-2006 M2 COMMUNICATIONS LTD http://www.m2.com

Icelandic bank Glitnir Banki hf said on Tuesday (13 June) that it had issued USD500m of subordinated bonds.

The issue is classified as Tier 2 capital and is for a term of 10 years, but may be called by Glitnir after five years.

The overwhelming majority of the bonds were sold to US institutional investors, the bank said.

One US dollar (USD) is worth approximately 0.56 British pounds (GBP).

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Publication:Nordic Business Report
Article Type:Brief article
Geographic Code:4EXIC
Date:Jun 13, 2006
Words:101
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