Icelandair agrees on concessions with all creditors

Icelandair reached (11-Aug-2020) concessions with all its creditors, focusing on restructuring cash outflows to match expected cash inflows. The agreements are conditioned upon the completion of the upcoming share offering and the airline entering into an agreement regarding a government-guaranteed credit facility. Discussions on a term sheet for a credit facility guaranteed by the Icelandic Government and to be provided by Islandsbanki and Landsbankinn are in the "final stages". The facility will, among other things, be conditioned upon the completion of the upcoming share offering. [more - original PR]