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Iceland: bonds

The Central Bank of Iceland administers debt affairs and debt management with the authorisation of the Ministry of Finance and in accordance with guidelines set by the Ministry. The Minister of Finance decided to assign the tasks that were handled by the NDMA to the Central Bank of Iceland. The changes took place on October 1st, 2007.

Nominal Treasury Bonds (RIKB) are coupon or zero coupon, none-indexed securities issued by the Government Debt Management on behalf of the Republic of Iceland. Issues of Nominal Treasury Bonds listed on the NASDAQ OMX Iceland hf.

Inflation-linked Treasury Bonds (RIKS) are long-term bullet bonds or coupon bonds issued by the Government Debt Management on behalf of the Republic of Iceland. The Bonds are index-linked to the Icelandic Consumer Price Index.

Treasury Bills (RIKV) are zero coupon, none-indexed securities with maturity up to one year and issued by the Government Debt Management on behalf of the Republic of Iceland.

Listed below are the five banks that act as Primary Dealers for Government Securitities: Islandsbanki, Arion Bank, Landsbankinn, mp bank, Straumur Investment Bank.

Outstanding bond issues

Сurrency Outstanding bond issues Cumulative volume
sovereign
ISK 15 839 822 321 020
EUR 3 1 500 000 000
USD 1 1 000 000 000
municipal
ISK 14 51 475 000 000
corporate
ISK 85 1 046 802 585 147
SEK 15 7 250 000 000
EUR 12 3 111 320 000
NOK 7 3 870 000 000
USD 6 1 397 481 000

Sovereign rating

Rating AgencyRatingRating scaleDate
Dagong Global *** International scale rating (foreign curr.) ***
Dagong Global *** International scale rating (local curr.) ***
Organisation for Economic Co-operation and Development (OECD) *** Country Risk Classifications ***
Moody's Investors Service *** LT- foreign currency ***
Moody's Investors Service *** LT- local currency ***
S&P Global Ratings *** Foreign Currency LT ***
S&P Global Ratings *** Local Currency LT ***
Fitch Ratings *** LT Int. Scale (foreign curr.) ***
Fitch Ratings *** LT Int. Scale (local curr.) ***
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Latest bond issues

issue ISIN coupon volume end of placement maturity date
Landsbankinn, 5% 23nov2023, ISK - Domestic bonds IS0000029296 5% 12 820 000 000  ISK 08/24/2020 11/23/2023
Landsbankinn, 3.4% 17sep2028, ISK - Domestic bonds IS0000031821 3.4% 10 160 000 000  ISK 08/24/2020 09/17/2028
Iceland, RIKB 1.5% 15may2023, ISK - Domestic bonds IS0000032191 1.5% 31 870 000 000  ISK 08/21/2020 05/15/2023
Iceland, RIKV 0% 15feb2021, ISK (195D) - Domestic bonds IS0000032183 0% 14 500 000 000  ISK 07/30/2020 02/15/2021
Iceland, RIKV 5oct2020 4m - Domestic bonds IS0000031912 0% 22 850 000 000  ISK 05/28/2020 10/05/2020
Iceland, RIKV 15dec2020 6m - Domestic bonds IS0000031920 0% 20 850 000 000  ISK 05/28/2020 12/15/2020
Iceland, 0.625% 3jun2026, EUR - International bonds XS2182399274 0.625% 500 000 000  EUR 05/27/2020 06/03/2026
Landsbankinn, 1.5% 20nov2026, ISK (ABS) - Domestic bonds IS0000031771 1.5% 4 280 000 000  ISK 04/27/2020 11/20/2026
Lanasjodur sveitarfelaga, 1.5% 4apr2040, ISK - Domestic bonds IS0000031664 1.5% 1 100 000 000  ISK 04/04/2020 04/04/2040
Arion Bank, 6.25% perp., USD - International bonds XS2125141445 6.25% 100 000 000  USD 02/19/2020

Coronavirus

Daily indices

Type: 09/26/2020 09/25/2020 09/24/2020 09/23/2020 09/22/2020 09/21/2020 09/20/2020
Europe
[25631] Coronavirus confirmed cases in Iceland 2 561 2 561 2 512 2 476 2 419 2 377 2 307
[25965] Coronavirus deaths in Iceland 10 10 10 10 10 10 10
[26299] Coronavirus recovered in Iceland 2 151 2 151 2 150 2 142 2 130 2 125 2 116
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Forex

Daily indices

Type: 09/25/2020 09/24/2020 09/23/2020 09/22/2020 09/21/2020 09/18/2020 09/17/2020
FOREX rates
[3979] USD/ISK 138.9500 138.4800 138.2700 137.5300 137.1400 136.0100 135.5700
[9881] EUR/ISK 161.7939 161.8389 161.3891 161.1727 161.7192 161.2046 160.8088
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Historical yields

Daily indices

Type: 09/25/2020 09/24/2020 09/23/2020 09/22/2020 09/21/2020 09/18/2020 09/17/2020
10Y Government Bond Yields, Western Europe
[24241] Iceland 10Y YTM 2.663 2.659 2.659 2.660 2.606 2.611 2.561
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International bonds outstanding volume

Monthly indices

Type: Aug 2020 Jul 2020 Jun 2020 May 2020 Apr 2020 Mar 2020 Feb 2020
DM international bonds outstanding volume
[11347] Iceland sovereign international bonds, USD bln 1.883 1.859 2.105 2.082 1.507 1.516 1.518
[11349] Iceland corporate international bonds, USD bln 9.245 9.128 8.974 9.412 9.042 9.165 9.629
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Bonds prices

issue volume maturity date bid prices ask prices
date bid price yield date ask price yield
Iceland, 0.1% 20jun2024, EUR   EUR 06/20/2024 09/25/2020 ***.** *.** 09/25/2020 ***.** -*.**
Iceland, 0.5% 20dec2022, EUR   EUR 12/20/2022 09/25/2020 ***.*** -*.** 09/25/2020 ***.** -*.**
Iceland, 0.625% 3jun2026, EUR   EUR 06/03/2026 09/25/2020 ***.** *.** 09/25/2020 ***.** -*.**
Iceland, 5.875% 11may2022, USD   USD 05/11/2022 09/25/2020 ***.** *.** 09/25/2020 ***.** *.**
Arion Bank, 1% 20mar2023, EUR   EUR 03/20/2023 09/25/2020 ***.** *.** 09/25/2020 ***.* *.**
Arion Bank, 1.625% 1dec2021, EUR   EUR 12/01/2021 09/25/2020 ***.** *.** 09/25/2020 ***.** -*.**
Islandsbanki, 1.125% 12apr2022, EUR   EUR 04/12/2022 09/25/2020 ***.** *.** 09/25/2020 ***.** *.**
Islandsbanki, 1.125% 19jan2024, EUR   EUR 01/19/2024 09/25/2020 ***.** * 09/25/2020 ***.** *
Landsbankinn, 0.5% 20may2024, EUR   EUR 05/20/2024 09/25/2020 **.** *.** 09/25/2020 **.*** *.**
Landsbankinn, 1% 30may2023, EUR   EUR 05/30/2023 09/25/2020 ***.** *.** 09/25/2020 ***.** *.**
Landsbankinn, 1.375% 14mar2022, EUR   EUR 03/14/2022 09/25/2020 ***.*** *.** 09/25/2020 ***.** *.**
Landsbankinn, 1.625% 15mar2021, EUR   EUR 03/15/2021 09/25/2020 ***.** *.** 09/25/2020 ***.*** -*.**
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