Revolving loan facility to Landsvirkjun
Íslandsbanki, Arion Bank, and Landsbanki have granted Landsvirkjun a seven-year syndicated credit facility totalling ISK 12bn, consisting of one ISK 4bn loan facility from each of the three banks. The aim of the transaction is to ensure that Landsvirkjun has secure, ready access to financing in Icelandic krónur. Landsvirkjun will use the credit facility to refinance a syndicated loan of ISK 10.5bn taken at the end of 2011, and it may draw on the credit line and repay it as needed. Íslandsbanki handled documentation and administration on behalf of Landsvirkjun. The loan agreement was finalised today at Íslandsbanki’s headquarters in Kirkjusandur.