News
05.07.2007
Eimskip receives a EUR 300 million Revolving Facility
Hf. Eimskipafélag Íslands (“Eimskip”) has mandated ABN AMRO Bank N.V. (“ABN AMRO”) to arrange and underwrite a EUR 300 million (approximately ISK 25 billion) five year Revolving Investment Facilty (the “Facility”).
This is Eimskip’s inaugural international financing which will be relationship defining and the Facility will be syndicated later on this year.
The Facility will be used for further developments of Eimskip’s intensive transportation network and cold stores network which is in line with Eimskip’s vision to become a key international player in temperature-controlled cargo globally.
Allen & Overy LLP is acting as lender’s primary counsel.
Stefan Agust Magnusson, CFO of Eimskip:
“We appreciate the trust Eimskip is granted by ABN AMRO and the interest the bank shows by participating in the company’s future growth. Eimskip has developed an intensive transportion network of cold stores which supports the transportation and storage network in the world’s key market areas.”
Further information: Stefan A Magnusson CFO of Eimskip, phone:+ 354 525 7202
ABN AMRO Bank N.V.
Contact:
Nigel Tuck : + 44 (0) 20 7678 6020
Kim Slater : + 44 (0) 20 7678 5144
About Eimskip
Hf. Eimskipafelag Islands is one of the largest companies in Iceland and is publicly listed on the Icelandic Stock Exchange. The company has over 90 years of experience in providing transportation, warehousing and logistics services in Europe, primarily in the North Atlantic region.
Operating with 200 locations around the world in over 30 countries with a total of 10,000 employees, Hf. Eimskipafelag Islands has global reach. It has an annual turnover exceeding EUR 1,450 million and estimated 2007 EBITDA of EUR 135 million. It operates 50 vessels, 100 cold-store facilities, 25 wide body cargo aircraft and 2,000 trucks and trailers.
Eimskip is traded on the Icelandic Stock Exchange under the symbol of HFEIM. To find out more about Eimskip, visit our website at www.eimskip.is.
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