PRESS RELEASE
2 September 2026

A&O Shearman Represents Kvika Bank On Establishment Of EUR1 Billion European Covered Bond Program

AO
A&O Shearman

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
A&O Shearman advises Kvika Bank on establishing a EUR1bn European premium covered bond program, representing only the fourth Icelandic covered bond program and the first to emerge in the market after several years. This landmark transaction strengthens Kv
Iceland

A&O Shearman has advised Kvika Bank on the establishment of a EUR1bn European premium covered bond program, marking only the fourth Icelandic covered bond program and the first to be established in the market for a number of years.

The program provides Kvika Bank with a significant platform for accessing the European capital markets through covered bond issuances, further strengthening its funding capabilities and presence in the international debt markets.

“As only the fourth program of its kind, and the first to be established in a number of years, it reflects growing confidence among Nordic issuers in accessing the European capital markets through sophisticated structured finance platforms. We are proud to have delivered a seamless, cross-border solution for Kvika Bank as it expands its presence in the international capital markets.”

Salim Nathoo

Partner

The A&O Shearman team advising Kvika Bank was led by partner Salim Nathoo alongside senior associates Graeme MacDonald and Zsuzsanna Gordos.

A&O Shearman also acts for Kvika Bank on its medium-term note programme, reflecting the firm's longstanding relationship with the Icelandic bank across its capital markets activities.

Contributor

A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets. This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength. Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations. Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.

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