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Republic of Iceland buys back 876.9 million of own bonds denominated in USD

4/5/17

Republic of Iceland has purchased for cancellation nominal value of 876.9 million USD in the “ICELAND 5.875%” series due in 2022 (Reg S ISIN USX34650AA31 and 144A ISIN US451029AE22; Reg S CUSIP X34650AA3 and 144A CUSIP 451029AE2) at 115.349. On March 29, the Republic of Iceland launched an invitation to holders of its bond issuance from 2012 with maturity in May 2022.  The offer expired on April 4. The issued total nominal value was 1 billion USD. The repurchase of the bonds is an element in the Treasury´s liquidity and debt management strategy. The foreign exchange reserves of the Central Bank will be reduced correspondingly, as the Treasury paid for the bonds with foreign currency deposits in the Central Bank.