News Archive
Scheduled payment confirmed to be €238,538,233
Pursuant to 9.1(c) of the Conditions, and in furtherance of the Payment Notice issued on the 5 December 2016, the Issuer hereby notifies the Noteholders that the final amount of Euro Equivalent Available Cash paid on the 15 December 2016 will be €238,538,233.
Scheduled Payment estimated to be €238.9 million
Terms defined in this notice shall be constructed in accordance with the conditions set out in the Schedule 1 to the Trust Deed, dated March 23rd, 2016 and made between the Issuer, the Trustee and the U.S. Trustee (the “Conditions“) (as amended in a noteholder meeting on 28 November 2016).
Pursuant to the Condition 9.1(b) of the Conditions, the Issuer hereby notifies the Noteholders of a payment which will be applied in partial redemption of the Notes on the Payment Date of 15 December 2016. The estimated Euro Equivalent Available Cash for this payment is € 238,884,851.
PREPAYMENT OF USD 41.2 MILLION FROM LANDSBANKINN
On 5 December 2016, Landsbankinn prepaid USD 41.0 million of Bond Series 2020. The total amount paid is USD 41.2 million, including accrued and unpaid interests (EUR 38.7 million at the exchange rate of 30 November 2016). The payment will be included in the Scheduled Payment on 15 December 2016.
Changed scheduled payment dates of LBI Convertible Notes
A meeting of Bondholders on 28 November 2016 attended by 81.12% of bondholders approved to change the semi-annual scheduled principal payment dates of the LBI Convertible Notes to 15 June and 15 December. The next scheduled payment will consequently be 15 December 2016.
Minutes from the meeting are available here.
Minutes from the extraordinary general meeting
LBI held an extraordinary general meeting on 28 November 2016 which had shareholders or shareholder representatives of 79.67% of the company’s share capital attending. A proposal from the Board of Directors on the indemnification of providers of various advisory, administrative, committee or consultative services to LBI ehf. was approved in the meeting.
Minutes from the meeting are available here.
Financial Information for Q3 2016 released
LBI has made its Management Accounts for Q3 2016 available under Financial Information on this website. LBI will host an investor call to present and discuss the results on Tuesday 29 November 2016 at 13:00 (GMT) and 08:00 New York time (EST). The investor call is recorded and will subsequently be made available on LBI’s website for those investors unable to attend.
Notice of Appointment of Chairman of Meeting of Bondholders
Notice is hereby given that LBI
Prepayment of USD 37.2 million from Landsbankinn
On 25 November 2016, Landsbankinn partially prepaid Bond Series 2020 in the amount of USD 36 million principal, together with interest accrued and unpaid a total of USD 37.2 million (EUR 33.3 million at the exchange rate of 30 September 2016).
LBI's Financial Information for Q3 to be relased 28 November 2016
LBI’s management accounts for Q3 2016 will be released on this website at the close of business Icelandic local time on 28 November 2016.
Repayment of CAD 137 million from Loans to customers
As of today 18 November 2016, LBI ehf. has received full repayment of all outstanding loans to a Canadian Fishery company for a total of CAD 137 million.