Iceland Bond Plans Highlight ‘Remarkable’ Post-Crisis Rebound

Iceland is returning to global bond markets for the first time in more than 18 months, marking another step in its recovery after the 2008 crisis that bankrupted its biggest banks and depressed the economy, the Financial TImes reported. The Nordic island is aiming to raise €500m in a five-year euro-denominated bond, according to people familiar with its plans, similar to a bond sale of December 2017. Proceeds will be used to buy back €352m of outstanding bonds. Running a budget surplus, Iceland has no immediate need for the remaining money raised. Instead, the government’s aim is to rebuild the nation’s profile with debt investors, said Bjarni Benediktsson, finance minister. Read more