Arctica Finance completes a successful bonds issuance for Hagar
Hagar concluded its bonds auction on September 30th, 2019.
New inflation-linked series was offered for sale, HAGA 021029, and the bonds are expected to be listed on Nasdaq Iceland within six months.
The series attracted bids for ISK 12.160.000.000- and bids for the maximum available nominal amount of 5.500.000.000- were accepted at the price of 1.0. The bonds pay a fixed 2.8% inflation-linked interest rate and the series is fully collateralized with the key real estate assets of Hagar. The series matures in 10 years (October 2029) and the bonds pay equal instalments every three months while the repayment schedule follows a 30 year amortization. The series can be expanded up to ISK 15.000.000.000-.
New nominal series was also offered for sale, HAGA 021022, but no bids were accepted at this time.
Arctica Finance managed the bond auction process for Hagar.