Bloomberg News

Iceland’s Landsvirkjun Signs 10.5 Billion-Krona Revolving Credit

January 03, 2012

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

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

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

--Editor: Paul Armstrong

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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