Guarantor: City of Reykjavik, Republic of Iceland, Township of Akureyi
Maturity: July 3, 2003
Issue price: 100.14
Launched: Thursday June 15
Sole mgr: Commerz Capital Markets
Landsvirkjun, Iceland's national power company, has privately placed a Ck500m three year fixed rate issue via sole lead manager Commerz Capital Markets.
The deal is off the issuer's long-established MTN programme, and is the ninth issue in a variety of currencies.
It is guaranteed by the Republic of Iceland, the City of Reykjavik and the Township of Akureyri and is rated Aa3/A+.
The deal pays a quarterly coupon of 6.5% and has an issue price of 100.14. Fees total 0.375%.