By Susanna Moon
Chicago, Oct. 18 – Icelandair Group hf. said it issued $150 million of five-year senior bonds at Libor plus 350 basis points with no Libor floor.
Pareto Securities AB is the bookrunner.
Proceeds will be used to finance pre-delivery payments for new aircraft, to strengthen the group’s liquidity and for general corporate purposes.
“The placement is Icelandair Group’s first bond offering on international capital markets,” Bjorgolfur Johannsson, president and chief executive officer of Icelandair, said in the company press release. “This is also one of the first Icelandic corporate non-bank international bond issuance.”
“The margin at which the bond was placed, positions the group as the Nordic airline with the lowest unsecured funding rate, and at the low end compared to international airline peers.”
Icelandair is a Reykjavik, Iceland-based holding company active in the airline and tourism industries.
| Issuer: | Icelandair Group hf.
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| Issue: | Senior bonds
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| Amount: | $150 million
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| Maturity: | Five years
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| Bookrunner: | Pareto Securities AB
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| Coupon: | Libor plus 350 basis points with no Libor floor
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| Announcement date: | Oct. 18
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