published online 28/03/2006
In 2005, they were among the busiest issuers of Eurobonds, selling €13 billion of new bonds between the three of them. In 2006, the big Icelandic banks will be sitting it out. “We won’t issue in Europe at all this year,” says Gudni Adalsteinsson, group treasurer at Kaupthing. Icelandic bank spreads, which had been drifting wider late last year, moved out sharply in early March. “The current levels are not attractive to us.
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