Íslandsbanki participates in a syndicated loan to Havila Shipping

Íslandsbanki participates in syndicated loans to the Norwegian shipping company Havila for refinancing of four vessels. The total amount of the syndicated loan that Íslandsbanki participates is 475 m. NOK.

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."

Older news

Íslandsbanki issues EUR 300m bond and announces partial buyback of its 2020 EUR 500m bond

04.04.2019 - IR Releases
Íslandsbanki has today issued a EUR 300m 1.125% fixed rate senior unsecured bond for 3 years, at a spread of 130 basis points over mid-swaps.More

Annual General Meeting 2019 - agenda, candidates and proposals

The Annual General Meeting of Íslandsbanki hf. will be held on March 21, 2019 at the Bank's headquarters, Hagasmári 3, 201 Kópavogur at 15:00.More

Publication of 2018 Annual Report and Pillar 3 Report

13.02.2019 - IR Releases
Íslandsbanki has published an Annual Report and Pillar 3 Report for 2018. More

Annual Results 2018

13.02.2019 - IR Releases
The Bank and Íslandssjóðir turned in a good operating performance during the year, with a consolidated profit of ISK 10.6bn, while operational...More

Publication of 2018 year-end results

30.01.2019 - IR Releases
Close of business Wednesday, 13 February 2019More

Íslandsbanki to terminate credit rating contract with Fitch Ratings

30.01.2019 - IR Releases
Íslandsbanki informs that following expiration and by agreement of parties, the credit rating service contract between Fitch Ratings and Íslandsbanki...More

Ásmundur Tryggvason to direct Corporate and Investment Banking

Ásmundur Tryggvason has been engaged as director of Corporate and Investment Banking at Íslandsbanki. He replaces Vilhelm Már Þorsteinsson, who will...More