Landsvirkjun has repurchased USD 50 million floating rate notes due in February 2026 and issued in 2006 under its EMTN Programme with ISIN XS0244993084.

The repurchased notes were issued with a state guarantee of collection. The transaction will therefore reduce the ratio of state guaranteed bonds issued by Landsvirkjun to around 10% of outstanding loans. The remaining outstanding bonds with a state guarantee of collection were issued in 2006.

The repurchase reflects Landsvirkjun´s strong financial position and is a part of the company´s debt management.

Landsvirkjun
Landsvirkjun is an energy company owned by the Icelandic State. The Company generates electricity from renewable energy sources: hydropower, geothermal energy, and wind power. Landsvirkjun produces over 70% of all energy produced in Iceland, which is delivered to industries, the service sector, and households. Approximately 85% of the energy is sold to large end-users in the industrial market and 15% on the wholesale market. Landsvirkjun operates fifteen hydropower stations, three geothermal power stations and two wind turbines. In 2021 the total energy generation was 14 Gwh.

Reykjavík, 29 November 2022

For further information please contact Rafnar Larusson, CFO