What Changed

Brim hf. has completed the sale of its BRIM 29 09 bond, with Íslandsbanki hf. managing the sale, issuance and planned listing of the bonds.

The offering was carried out under an exemption from prospectus requirements, specifically the exemption available under points c and d of paragraph 4, article 1 of EU Regulation 2017/1129, meaning Brim did not need to publish a full prospectus document for this sale.

Settlement of the bond sale is scheduled for Tuesday, September 22.

Highlights

  • Brim hf. completed the BRIM 29 09 bond sale.
  • Settlement is due Tuesday, September 22.
  • Listing is planned on Nasdaq Iceland's Main Market within six months of the issue date.
  • Interest payments are quarterly, with the first due December 22, 2026.
  • The bond repays principal in a single payment at final maturity.

How the Bond Is Structured

If you're evaluating BRIM 29 09 for your own account, it's worth understanding that the bond repays its full principal in a single payment at final maturity rather than amortizing gradually.

Interest on the bond is paid quarterly, with the first interest payment due on December 22, 2026.

Brim intends to list BRIM 29 09 on the Nasdaq Iceland Main Market within six months of the bond's issue date.

Once listed, Nasdaq Iceland requires at least one day's trading notice period before changes affecting the bond can take effect on the exchange.

Who Is Affected

Inga Jóna Friðgeirsdóttir holds the title of framkvæmdastjóri fjármálasviðs, or head of finance, at Brim hf..

What to Watch Next

Traders following BRIM 29 09 should watch for the bond's admission to trading on Nasdaq Iceland's Main Market, expected within six months of the issue date, and for the first quarterly interest payment on December 22, 2026.