Published: 2011-10-04 19:02:15 CEST
Icelandair Group hf.
Company Announcement

Icelandair Group completes debt financing with Deutsche Bank

Icelandair Group has negotiated a new loan facility with Deutsche Bank in the amount of USD 18 million. The loan has maturity of seven years and the Bank will hold collateral in two of the company’s aircraft. The loan will be used to refinance other loans that were recently repaid.

Payments are index linked within a predefined range, which equals a variable interest rate with floor and cap. The development of the index will affect the effective interest rate on the loan. Deutsche Bank manages the index which is quoted on Bloomberg as DBPPULSU INDEX.

Björgólfur Jóhansson, CEO Icelandair Group: "We are very pleased to have concluded the financing with Deutsche Bank, especially in-light of the current turmoil in financial markets. We believe that our access to international financial markets confirms the viability of our business model."

 

For further information, please contact:

Björgólfur Jóhannsson President and CEO, Icelandair Group, tel. +354-896-1455
Bogi Nils Bogason, CFO, Icelandair Group, tel. +354-665-8801