On Friday, 9 July at 11:00 the Government Debt Management will conduct an auction of two series of Treasury bonds. The series that will be offered are RIKS 21 0414 and RIKB 25 0612. The total amount of accepted bids will be announced after the auction. The GDM reserves the right to accept all of the submitted bids, accept part of them, or reject all of them. Only primary dealers in Treasury securities are authorised to submit bids in this auction. They also submit bids on behalf of investors. The minimum amount of each bid is 1 m.kr. nominal value. The auction will be structured as a single-price auction, which means that all accepted bids will be sold to primary dealers at the same price. The lowest accepted price (highest yield) will determine the selling price. In other respects, reference is made to the Terms of Invitation to Tender, which accompany this press release. The payment and settlement date is Wednesday, July 14, 2010. For this auction, the GDM requests bids for the following series: Series Maturity date Outstanding amount* Time to maturity RIKB 25 0612 25. June 2025 83.118 m.kr. 15.0 years RIKS 21 0414 14 April 2021 18.059 m.kr. 11.0 years *Nominal value After the results of the auction are available, the GDM will offer primary dealers the equivalent of 10% of the nominal value sold in the auction, at the price of accepted bids, until 14:00 on Tuesday, July 13 2010. Each primary dealer that has submitted an accepted bid in the auction has the right to purchase an amount proportional to its total purchase. The payment and settlement date for these transactions is 14 July 2010.
Auction of nominal and inflation linked Treasury bonds RIKB 25 0612 & RIKS 21 0414
| Source: Ríkissjóður Íslands - Lánamál ríkisins