Iceland Seafood International hf: Endurfjármögnun lokið

Group 1 - Iceland Seafood International hf. (ISI hf.) has successfully completed a refinancing for the year 2025, significantly strengthening its financial position through debt restructuring, reduced interest costs, and improved liquidity [1][4] - The refinancing involved the issuance of the ICESEA 28 10 bond for 3.5 years, resulting in a reduction of short-term debt by €27.6 million, while long-term debt increased by the same amount [1][3] - The current interest rate on the new bond is approximately 5.2%, considering currency swap agreements, compared to the previous bond which had a flat interest rate of 13% [1][2] Group 2 - The refinancing of foreign bank loans has led to a decrease in interest margins by 0.5% to 1.0% [2] - The overall loan composition of the group has been simplified, contributing to increased oversight and more efficient operations [2] - Following the refinancing, ISI hf.'s long-term debt now stands at approximately €35 million, with an improved balance between long-term and short-term liabilities [3] Group 3 - The CEO of ISI hf., Ægir Páll Friðbertsson, expressed satisfaction with the completion of the refinancing, highlighting the creation of a strong foundation for continued healthy operations and growth potential [4] - The company is now in a strong position to maintain financial stability and pursue operational goals due to lower interest rates and balanced debt [4]