Lýsing hf. recently issued bonds with a nominal value of ISK 900 million in the bond series LYSING 15 1. The company has now issued a total of ISK 4 billion in nominal value in this bond series since November 2015. The bonds are annuity bonds with a five-year term and pay monthly interest based on the 1-month REIBOR rate plus a 120 basis point margin. The bonds are secured by a diversified loan portfolio.
Arctica Finance’s Capital Markets division managed the issuance and sale of the bonds.
With this bond issuance, Lýsing has taken an important step in financing the company through the domestic bond market. Lýsing holds a license as a financial institution. The company’s financial position is strong: last year’s profit amounted to ISK 607 million, and its equity at year end was ISK 10.6 billion. Lýsing’s capital adequacy ratio, calculated according to the Financial Institutions Act (CAD), was 45.2% at the end of 2015.
