Landsbankinn hf.: Issuance of AT1 securities in Icelandic króna

Today, Landsbankinn concluded an auction of Additional Tier 1 (AT1) securities.

On offer was a new non-indexed series in ISK, LBANK AT1 PNC31. The securities have no fixed maturity date but have a call option date after 5.5 years. The securities carry a fixed interest of 10.00% payable semi-annually corresponding to an annual yield of 10.25%.

A total of 54 bids for ISK 89.32 billion were received from professional domestic investors and bids in the amount of ISK 16 billion were accepted in the auction.

Lilja B. Einarsdottir, CEO: “Landsbankinn launched an AT1 securities issuance in Icelandic króna, following a successful similar issuance in US dollars last year, with the aim of broadening the Bank’s funding sources domestically. It is great to see the active engagement of investors, demonstrating their confidence in Landsbankinn as an investment opportunity.”

The expected credit rating of the AT1 securities is BB from S&P Global Ratings. The aim is to list the securities on Nasdaq Iceland and Euronext Dublin on 18 February 2026.

Morgan Stanley acted as arranger of the issuance and Landsbankinn Capital Markets managed the auction.

This announcement is released by Landsbankinn hf. and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR).For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by Hreiðar Bjarnason, Chief Financial Officer for Landsbankinn hf.

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