Landsbankinn hf. and the Winding-up Board of LBI hf. have today, 18 September 2015, reached an agreement providing, inter alia, that Landsbankinn will during 2015 prepay Bonds issued in foreign currencies with maturity in October 2016, and prepay partially Bonds with maturity in October 2018. The amount of the prepayment is equivalent to 47 billion Icelandic krona. The agreement on the prepayment is subject to the conclusion by Landsbankinn of a financing arrangement under conditions that Landsbankinn deems to be acceptable.
The agreement takes into account the proposals of certain LBI creditors made in relation to the Government´s plan for easing of capital controls. Information on these plans were published on the website of the Ministry of Finance and Economic Affairs in June 2015.
To facilitate the above refinancing and to broaden and strengthen Landsbankinn’s funding profile, Landsbankinn has mandated Citi, Deutsche Bank and J.P. Morgan to arrange a series of fixed income investor meetings in Europe commencing Monday 21 September. A Euro denominated senior unsecured transaction may follow, subject to market conditions.
Presentation material for the upcoming investor meetings is accessible on Landsbankinn’s website: http://corporate.landsbankinn.com/investor-relations/
Further information:
Kristján Kristjánsson, pr@landsbankinn.is, +354 410 4011 / +354 899 9352