Icebank has signed a syndicated loan for € 217 million - facility heavily oversubscribed: Largest syndicated loan facility in Icebank's history Icebank today signed a syndicated term loan facility for € 217,000,000; which is equivalent to ISK 19 billion; provided by 34 European banks. Owing to heavy oversubscription and the number of investors who showed interest, the final figure is more than twice what Icebank originally sought. This is indicative of the high level of confidence that Icebank enjoys abroad, and is seen by its management as an encouragement to further expansion both in Iceland and abroad. The signing of the loan facility took place in Berchtesgaden, Germany. The loan facility, which is for a term of three years, was launched for general syndication on 8 March this year, and the response was immediately strong. The interest premium, 0.46%, is in line with the terms that Iceland's banks currently enjoy. The loan will be used to refinance older loans and to finance Icebank's further expansion. “This high level of oversubscription by European investors reflects the high level of confidence they have in the bank,” says Finnur Sveinbjörnsson, CEO of Icebank. “Their response is an encouragement to us, and opens up a lot of interesting possibilities in accordance with our strategy. Last year saw the best performance in Icebank's history, and it is well prepared for further expansion.” Four prominent European banks acted as mandated lead arrangers: BayernLB in Germany, Fortis Bank in Belgium, HSH Nordbank in Germany and the Austrian bank Raiffeisen Zentralbank. A list of other providers is appended below. For further information please contact: Finnur Sveinbjörnsson, CEO of Icebank, tel. 540 4000. Agnar Hansson, Managing Director, Treasury and Capital Markets, tel. 540 4000. Icebank is a commercial bank, focusing on wholesale and investment banking services to savings banks, Icelandic and foreign financial institutions and other large customers. It is owned by the savings banks in Iceland. Other providers: Lead Arrangers: Commerzbank International S.A. Landesbank Baden-Württemberg, London Branch Natixis Norddeutsche Landesbank Luxembourg S.A. The Bank of Tokyo-Mitsubishi UFJ, Ltd. Zürcher Kantonalbank Arranger: Sumitomo Mitsui Banking Corporation Europe Ltd. Lead Manager: Banca Monte dei Paschi di Siena SpA, London Branch Banque et Caisse d'Epargne de l'Etat, Luxembourg Bayerische Hypo- und Vereinsbank AG Chang Hwa Commercial Bank, Ltd., London Branch Geral de Depósitos, S.A. - Sucursal Financeira Exterior DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main Landesbank Saar WGZ Bank AG Westdeutsche Genossenschafts-Zentralbank Manager: American Express Bank GmbH Arbejdernes Landsbank BRE Bank SA Dresdner Bank AG Erste Bank der oesterreichischen Sparkassen AG Mega International Commercial Bank Co. Ltd. Offshore Banking Branch National Bank of Egypt (UK) Limited Oberbank AG Raiffeisenlandesbank Burgenland und Revisionsverband registrierte Genossenschafte mit beschränkter Haftung Salzburger Landes-Hypothekenbank Aktiengesellschaft Sparebanken Øst Raiffeisenlandesbank Kaernten - Rechenznetrum und Revisionsverband registrierte Genossenschafte mit beschränkter Haftung Banco Popolare di Verona e Novara S.c.r.l., London Branch Raiffeisenlandesbank Niederösterreich-Wien AG