News


05.12.2016

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.

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05.12.2016

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.

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30.11.2016

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.

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30.11.2016

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.

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29.11.2016

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.

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