Íslandsbanki participates in a syndicated loan to Havila Shipping
Manager of the syndicated loan was SpareBank1 SMN in Norway and the loan will be used to refinance four vessels Havila, serving the oil industry .
Norwegian shipping company Havila is one of the leading companies in the offshore oil services industry. The Group owns and operates 27 service vessels, is headquartered in Fosnavaag in Norway with offices in Brazil and Asia. Havila was established in 2003 and was listed on the Norwegian stock market Oslo Bors in 2005.
The total value of Havila fleet at the end of third quarter was 7,400 m. NOK. In the first three quarters of 2013 the total revenues of Havila were 1,076 m. NOK and EBITDA 532 m. NOK.
Vilhelm Mar Thorsteinsson , Managing Director of Corporate banking of Íslandsbanki:
"Participation in syndicated loan Havila is an important step in increasing our participation in the service industry for the oil and oilsearch in the North Atlantic. Íslandsbanki has the ability to lend to foreign projects because of its strong position in foreign currency and supports the further development of other companies in the industries in which the Bank has expertise."
Arne Johan Dale, CFO Havila:
"The borrower is very pleased with the agreement and doing business in Iceland."