With three new bond issues Eik Banki has ensured the liquidity to refinance all debt due in 2010 and 2011
16 March 2010, the Eik Group entered into an agreement with the Danish Financial Stability Company, allowing the Group to take out state backed loans for up to a total of DKK 9.1 billion.
The agreement entails a loan-guarantee frame of DKK 6.6 billion for the parent company Eik Banki in the Faroe Islands and DKK 2.5 billion for the subsidiary Eik bank Danmark A/S, respectively.
With the bond issues, announced on 22 June, Eik Banki has the liquidity to refinance all senior debt due in 2010 and 2011. Eik Bank Danmark has also nearly completed the process of refinancing the Bank's debt.
“This means that our liquidity is at a high level, which is beneficial for our customers and shareholders as well as lenders”, says Marner Jacobsen, CEO of Eik Banki Group
