Landsvirkjun (The National Power Company) has signed a USD 50 million 7 year bond in cooperation with Arion Bank. The bond will carry a fixed interest rate of 4.27% with semi-annual interest payments and a single principal payment at maturity. Landsvirkjun has an option to repay the bond in part or in full over the term of the bond.
The bond is issued under the Company’s EMTN (Euro Medium Term Note) program without a guarantee of collection and will be listed in the Luxembourg Stock Exchange. Dealer for the transaction is Arion Bank.
The proceeds of the bond will be used for general financing purposes.