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On Friday, February 2, 2024, HF Fund will hold two switch auctions.
In the first auction, which will be held between 9:30 and 10:30, HF Fund will offer to purchase HFF150434 (XS0195066575) at a clean price of 100.00. This corresponds to a yield of 3.78% on delivery of goods. The indexed government bond series RIKS 33 0321 (IS0000021251) has a clean price of 102.700, corresponding to a yield of 2.66%. HF Fund offers to purchase HFF150434 up to a notional amount of 1,520,000,000 kronor. Listed in RIKS 33 0321. Auction results will be announced at 11:30 on the day of the auction.
In the second auction held between 14:00 and 15:00, HF Fund offers to buy HFF150434 at a clean price of 100.00. This corresponds to a yield of 3.78% for delivery of indexed government bonds. You can buy the series RIKS 26 0216 (IS0000030732) at a clean price of 96.240, which corresponds to a yield of 3.45%. HF Fund offers to purchase HFF150434 up to a notional amount of SEK 4,570,000,000. RIKS 26 0216. Auction results will be announced at 16:00 on the day of the auction.
Bids for the index-linked bond series are submitted at nominal amounts.
The settlement date for the transaction is Tuesday, February 6, 2024.
HF Fund reserves the right to partially accept bids or reject all bids.
The switch auction was arranged by the Government Debt Management Authority, a division of the Central Bank of Iceland. Primary dealers in Treasury securities are invited to act as intermediaries in transactions (Arion Banki hf., Fossar Investment Bank hf., Íslandsbanki hf., Kvika banki hf., Landsbankinn hf.). Bloomberg trading and auction system will be used.
Owners of Housing Finance Fund bonds interested in participating in the Switch auction are encouraged to contact their Treasury bill primary dealer.
Auction terms and conditions are listed in the attached file.
Further information is available below.
For the HF Fund: Steinþór Pálsson, phone: +354 6160200, email: verkefnisstjornil@fjr.is
Arranged by: Government Debt Management, Tel: +354 5699635, +354 5699679, Email: lanamal@lanamal.is
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Switch Auction Terms – First Auction 02.02.2024
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Switch Auction Terms – Second Auction 02.02.2024
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