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2016-09-08

Landsbankinn hf. : Landsbankinn issues a EUR 500m benchmark

Landsbankinn hf. has today issued €500 million of senior unsecured bonds,
equivalent to around ISK 65 billion. The bonds have a 4.5 year maturity with
a fixed 1.625% coupon and were priced at terms equivalent to 190 basis point
spread above mid-swaps in euros.

The bonds were sold to institutional investors in Scandinavia, the UK and
Continental Europe. The final order book amounted to around €1.5 billion,
three times oversubscribed, from over 130 investors. The bonds are issued
under Landsbankinn's Medium Term Note (EMTN) Programme and will be listed on
the Irish Stock Exchange on the 15thof September.

Landsbankinn will use the proceeds to pre-pay a part of the bank's existing
funding in addition to strengthening the bank's liquidity further.

Joint lead managers on the transaction were: Barclays, Citigroup and Deutsche
bank

Steinþór Pálsson, CEO of Landsbankinn:

"Today's issuance is an enjoyable milestone for Landsbankinn. The bank is
reaching its goal to lower funding cost significantly and at the same time
lengthening the maturity of its market funding.

Strong interest from investors highlights the increased confidence among
international investors in Landsbankinn as well as the positive economic
development that Iceland has experienced. Better terms and increased access
to foreign capital markets enables Landsbankinn to continue to play a leading
role in servicing Icelandic businesses."

Detailed information about Landsbankinn for investors and others stakeholders
are available at:http://corporate.landsbankinn.com/investor-relations/

Further information:

Investor relations: Hanna Kristin Thoroddsen ; ir@landsbankinn.is ; Tel: +354
410 7100

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This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Landsbankinn hf. via Globenewswire

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