5 December Straumur-Burdaras Investment Bank hf. confirms that it has today closed bank financing of €133 million. This financing improves the Bank's liquidity horizon and enables it to meet the repayment of its €200million 2005 syndication which matures on 9 December. This new funding matures on 15 May 2009. Straumur is confident that it is now in a position to continue to meet all its future financial obligations as they fall due. William Fall said "This new financing is an important achievement for Straumur, especially given the current market conditions. Furthermore, it is a positive sign for Iceland in view of challenges faced by the country in recent times. The Bank will, in line with its stated strategy, continue to build its customer-focused merchant banking business whilst making further reductions in its balance sheet and preserving its strong capital position." For further information contact; Georg Andersen Head of Corporate Communications Mobile: +354 858 6707 georg@straumur.com Ed Gasgoigne-Pees Managing Director, Financial Dynamics Tel: +44 (0)20 7269 7132 ed.gascoigne-pees@fd.com
Information on Straumur-Burdaras Investment Bank hf. (Straumur) financing
| Source: Straumur-Burðarás Fjárfestingabanki hf.