Bloomberg News

Iceland’s Landsvirkjun Signs ISK 10.5 Billion Revolving Credit

December 30, 2011

Dec. 30 (Bloomberg) -- Landsvirkjun, Iceland’s state-owned electrical utility, has obtained a 10.5 billion kronur ($86 million) credit line.

The three-year revolving facility, which can be extended to as long as five years, is in addition to another $200 million credit obtained on Dec. 27 and will give the company access to liquidity “if other conventional funding sources shut down temporarily”, according to a company statement distributed today by Globe Newswire

Arion Banki HF, Islandsbanki HF and Landsbanki Islands HF led and arranged the deal.

--Editor: Faris Khan

To contact the reporter on this story: Louise Meeson in London on lmeeson@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at Fkhan33@bloomberg.net.


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