Iceland Seafood has entered into a private placement of 4 year unsecured bonds in the new ICESEA 25 06 series. The total amount of the placement is ISK 3,400 million (approximately € 23.1 million) at a fixed rate 5.65%. The bond has semi-annual interest payments, the balance will be paid in one installment on 21.6.22025. The bond is expected to be admitted to trading on Nasdaq Iceland in the coming weeks.
Since the listing of Iceland Seafood shares on the Nasdaq Main Market in 2019, the company has actively used the capital market to support organic and acquisitive growth. The company raised new capital both in the form of equity and debt. A major milestone was taken with the issuance of 6-month notes, which began in September 2019. This bond issuance is another milestone in which the company secured long-term unsecured funding that will support the plans. of Iceland Seafood growth and will have a positive impact on the company’s cost of capital.
Bank Arion advised Iceland Seafood International on this matter. The issue marks an important milestone for the Icelandic capital market as it is the first issue of unsecured corporate bonds in many years. The bank is confident that Iceland Seafood’s relationship with the Icelandic capital market will continue to strengthen and more companies will follow suit, leading to a more diverse corporate debt market.
More information :
Iceland Seafood International hf
Bjarni Ármannsson CEO, [email protected]