Eyrir Invest ehf. has secured a new long term loan with Arion bank hf. The loan is initially in ISK for total amount of 2 billion ISK (12.5 m EUR). The loan is secured with listed shares and carries REIBOR + 2.5% interest rate. The principal of the loan is due in May 2015 with interest payable every 6 months. Half of the principal is extendable to 2016.
Eyrir has today also agreed with Glitnir bank hf. on the extension of a bank loan of 14 million EUR. The loan is secured with listed shares and carries EURIBOR + 3.75% interest rate, payable every 3 months. The new due date for the principal is in December 2013 instead of September 2012.
The class of bonds EYRI 11 1, in total 1 billion ISK, is expected to be listed on Nasdaq OMX Iceland in the beginning of 2012.
The above mentioned new loan, extension and listing of bonds are part of Eyrir Invest‘s ongoing debt and cash flow management.
About Eyrir Invest
Eyrir Invest is an international investment company that focuses on investments in industrial companies that have the potential to become true global leaders. Eyrir places great emphasis on aligning execution with good long-term strategic planning. Eyrir´s core assets are a 36% holding in Marel and 17% holding in Stork BV which owns and operates Stork Technical Services and Fokker Technologies. In recent years Eyrir has placed increased emphasis on venture capital investments. Eyrir´s „Buy and Build“ strategy has a proven track record as shareholder value has increased well above market returns since foundation.