Iceland Seafood International Completes Refinancing Process
Iceland Seafood International (ISI) has completed its refinancing process, a move the company says will improve its financial position through debt restructuring and lower interest rates.
The process began earlier this year, shortly after Expana reported that about half of ISI’s interest-bearing debt was being restructured.
As part of the refinancing, ISI issued a new bond with a maturity of 3.5 years, reducing its short-term debt by EUR 27.6 million. While the company’s share of long-term debt has increased, the new bond carries a significantly lower interest rate of roughly...
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