Landsnet has issued unsecured bonds in the amount of US $ 100 million (ISK 12.3 billion) that will reach maturity in ten to twelve years. The bonds were sold to international professional investors in a closed bond issue in the USA and are not listed on NASDAQ OMX Iceland.
Guðlaug Sigurðardóttir, CFO at Landsnet, was “pleased to see ongoing interest from international investors. The company's operations are stable, maintaining a strong financial position and there is a great deal of interest in infrastructure companies like Landsnet. The investors who participated in this bond issue were the same parties who participated in the company's last bond issue in 2016 as well as new investors. Investor interest was high and bids were received for more than twice the amount expected. The latest bond issue is on better terms than the last, which reflects increased investor confidence in us and in Iceland. We have now raised funds to repay the initial loan from Landsvirkjun, in addition to securing finance for some of the company's investments next year. ”
For more information, please contact Guðlaug Sigurðardóttir, CFO at Landsnet