News


17.07.2017

Unscheduled payment confirmed to be €146,561,602

Terms defined in this notice shall be construed in accordance with the conditions set out in the Schedule 1 to the Trust Deed, dated 23 March 2016 and made between the Issuer, the Trustee and the U.S. Trustee (the “Conditions“) (as amended in a noteholder meeting on 28 November 2016).

Pursuant to 9.1(c) of the Conditions, and in furtherance of the Unscheduled Payment Notice issued on the 30 June 2017, the Issuer hereby notifies the Bondholders that the final amount of Euro Equivalent Available Cash paid on the 21 July 2017 will be €146,561,602.

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10.07.2017

Unscheduled payment estimated to be €147,723,358

Terms defined in this notice shall be construed in accordance with the conditions set out in the Schedule 1 to the Trust Deed, dated 23 March 2016 and made between the Issuer, the Trustee and the U.S. Trustee (the “Conditions“) (as amended in a noteholder meeting on 28 November 2016).

Pursuant to 9.2(a)(ii) of the Conditions, and in furtherance of the Unscheduled Payment Notice issued on the 30 June 2017, the Issuer hereby notifies the Bondholders of payment which will be applied in partial redemption of the Bonds on the Payment Date of 21 July 2017. The estimated Euro Equivalent Available Cash for this payment is €147,723,358.

An estimated breakdown of the currencies included and the assets from which the Euro Equivalent Available Cash will derive, in accordance with 9.1(b)(ii) of the Conditions can be found here.


The Currency Conversion Date for the non-EUR currencies will be 13 July 2017. LBI will provide a further notification after the Currency Conversion Date and confirm the final EUR amount used for partial redemption of the Bonds on the Payment Date of 21 July 2017.

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30.06.2017

Unscheduled payment estimated to be €147 million

Pursuant to Condition 9.2(a) of the Convertible Notes due 2035, LBI ehf. hereby gives notice of its intention to make an unscheduled payment in respect of the Convertible Notes on 21 July 2017 in an amount currently estimated to be €147 million.

The principal source of cash for this payment is the partial prepayment of Landsbankinn Bonds, which was received by LBI on 22 June 2017.

In accordance with the terms and conditions of the Convertible Notes, further detail will be provided on 10 July 2017.

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22.06.2017

Landsbankinn fully repays remaining Bond owed to LBI

On 22 June 2017, Landsbankinn fully prepaid the outstanding balance under Bond Series 2024 of USD 160 million and has thereby fully repaid all outstanding Bonds owed to LBI. The prepayment totals USD 161.33 million, including accrued and unpaid interest (EUR 144.7 million at the exchange rate of 22 June 2017). LBI expects to announce an unscheduled payment in partial redemption of the Convertible Notes shortly.

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09.06.2017

Scheduled payment confirmed to be €43,615,742

Pursuant to 9.1(c) of the Conditions, and in furtherance of the Payment Notice issued on the 2 June 2017, the Issuer hereby notifies the Noteholders that the final amount of Euro Equivalent Available Cash paid on the 15 June 2017 will be €43,615,742.

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