Reykjavík Energy (Orkuveita Reykjavíkur) has reached an agreement with the holders of the bond OR 12 2016 regarding an extension and partial refinancing of the bond. The recalculated position of OR 12 2016 as of June 29, 2016, is ISK 4,581,607,537, and it is due on December 14, 2016. The bond will be prepaid in the amount of ISK 2,636,619,337. In exchange for this prepayment, OR will issue ISK 2,701,724,833 in nominal value in the bond series OR090546 at a yield of 3.40%. The remaining balance of OR 12 2016 after the agreement will be repaid in four equal installments every six months, starting on June 14, 2017.
Arctica Finance’s Capital Markets division managed the transaction.
