By Wendy Van Sickle
Columbus, Ohio, March 16 – Landsvirkjun (National Power Co.) has signed an agreement with investors in the United States and United Kingdom under which it will issue $80 million 2.51% three-year senior notes in a private placement, according to a press release.
Pricing of the notes is linked to the company’s carbon sequestration targets, in line with the United Nations’ Sustainable Development Goal 13 on climate action.
The company said the order book was multiple times oversubscribed.
Proceeds will be used to refinance existing debt and for general corporate purposes.
The electricity generator and producer of renewable energy in Europe is based in Reykjavik, Iceland.
| Issuer: | Landsvirkjun
|
| Issue: | Senior notes
|
| Amount: | $80 million
|
| Tenor: | Three years
|
| Coupon: | 2.51%
|
| Announcement date: | March 16
|
| Distribution: | Private placement
|
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