Iceland has issued a USD 1 billion Reg S / 144A bond offering due in
2022. This is a fixed rate bond with a 6,0% yield. The transaction was
well received by global investors with an order book 4 times
oversubscribed. The bonds were predominantly placed with US and European
accounts. " Important milestone for Iceland" says Finance Minister, Ms. Oddný Harðardóttir.
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Preliminary results for 2011 Government
accounts have now been released by the Financial Management Agency but the final results will be available in June this
year. Their
conclusion is that both revenues and expenditures exceeded estimates by the
Ministry of Finance available when the supplementary budget was passed.
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