Greenberg Traurig has advised investors in a U.S. private placement financing of $200 million unsecured senior notes issued by Landsvirkjun, Iceland’s largest energy company. The transaction closed on March 9, 2018.
Landsvirkjun is the first company in Iceland to issue bonds in Green Bond format and the bond issuance is one of the first Green Bond U.S. private placements for a power company. Proceeds of the issuance will be used for power projects utilizing renewable energy for positive environmental impact.
Landsvirkjun is owned by the Icelandic state and is the country’s largest electricity generator. The company generates around 70% of all electricity used in Iceland with 100% renewable energy sources.
Barclays and Citi acted as Joint Placement Agents in this transaction.
The Greenberg Traurig team included shareholders Charles J. Kolin and Lorraine M. Tyson; and Associate Rebecca D. Kristall.
Law Firms: Greenberg Traurig;