Landsnet wraps $100 million private placement of 10- to 12-year bonds

By Devika Patel

Knoxville, Tenn., Dec. 18 – Landsnet completed a $100 million private placement of unsecured bonds, according to a press release.

The bonds will mature in 10 to 12 years.

“Investor interest was high and bids were received for more than twice the amount expected,” chief financial officer Guolaug Siguroardottir said in a press release.

“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,” Siguroardottir stated.

Based in Reykjavík, Iceland, Landsnet is a transmission system operator of the Icelandic high-voltage power grid.

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