Straumur-Burdarás Investment Bank hf. has signed a syndicated loan for EUR 400 million with variable interest rates, for periods of one and three years. The one-year portion of the loan, for EUR 77 million, was priced at 35 basis points above EURIBOR rates, while the three-year portion, for EUR 323 million, was priced at 67.5 basis points above EURIBOR rates. There was considerable demand for participation in the loan, which resulted in its increasing from EUR 175 million to EUR 400 million. BayernLB, Commerzbank, Fortis bank, and RZB led the syndicate, which involved 29 banks from 13 countries. The transaction bears witness to the trust that Straumur-Burdarás Investment Bank enjoys with lenders and to the faith that lenders have in the Bank's long-term strategy. Further information can be obtained from Svanhildur Nanna Vigfúsdóttir, Managing Director of the Treasury Division (snv@straumur.net; tel +354 840-9160), and Jóhanna Vigdís Gudmundsdóttir (johanna@straumur.net; tel +354 740 9133), Director of Corporate Communications.
Straumur-Burdarás signs EUR 400 million syndicated loan
| Source: Straumur-Burðarás Fjárfestingabanki hf.