Iceland's Landsbankinn to refinance 200b kronur in debt
Reykjavik
ICELAND'S Landsbankinn is planning this year to begin refinancing as much as 200 billion kronur (S$2.2 billion) of debt issued to its failed predecessor Landsbanki Islands (LBI), both helping the country lift its capital restrictions and reducing its cost of financing.
An upgrade in the bank's credit rating "has led to interest rates becoming, it seems, more favourable than what we have in our debts towards LBI", Steinthor Palsson, Landsbankinn's chief executive officer, said on Sept 4. "It may be mutually beneficial for us to head to the market, finance the approximate 200 billion kronur in debt."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
Barclays is the latest firm to face anti-ESG wrath in Oklahoma
Barclays prices mortgage-backed notes in deal with GoldenTree
TD risks an earnings hit from US laundering probe, analysts say