In December 2019 CIT Bank served as sole lender and facility agent on a $30 and $35 million secured financing for Icelandair Group, the nationalcarrier of Iceland. The financing is part of a refinancing due to theredemption of bonds, issued by Icelandair, earlier this year.
On 18 December 2019 Landsvirkjun (theNational Power Company) and Reykjavík DC hf., a new high-tech data centre inReykjavik, entered into a power purchase agreement pursuant to which Landsvirkjun shall provide electricity to the data centre up to 12 MW. Theagreement is no. 10 which Landsvirkjun has entered into with a customer whichis defined as a power-intensive user and the agreement is certified as agreen power purchase agreement. That means that Reykajvík DC hf. isprovided with guarantees of origin which confirm that the purchased electricityderives from renewable energy sources.
Lawyers Bjarki Diego and Tómas MagnúsÞórhallsson assisted and provided Reykjavík DC hf. with legal advice during thenegotiations with Landsvirkjun
BBA//Fjeldco acted as a legal advisor to the Asian Development Banks in relation to a USD 250,000,000 loan facility to the Arctic Green Energy corporation and Sinopec Green Energy Geothermal Company Limited, provided in order to expand environmentally sustainable district heating services in the People's Republic of China.
BBA//Fjeldco is acting for LBI ehf. in three separate tort proceedings and where the combined value exceeds ISK 50 billion.
BBA//Fjeldco acted as legal advisor to Alvotech hf., an Icelandic biopharmaceutical company focused on the development and manufacturing of high quality biosimilars for global markets, during the restructuring of Alvotechhf. BBA also advised on the issuance of USD 300,000,000 convertible bond, issued by Alvotech Holding A.S., whereas Alvotech hf., Glycothera GMBH, AlvotechGermany GMBH and Alvotech Swiss AG acted as guarantors.
BBA//Fjeldco advised Festi hf. in relation to the acquisition of Kaupás ehf. and other subsidiaries of Norvik hf. Although the value of the agreement is confidential, it is safe to say that the deal is one of the largest domestic M&A deals in recent years.
BBA//Feldco advised Valka when preparing all of its basic contractual documents in relation to the sale of its innovated and patent-protected goods,services and software.
BBA//Fjeldco acted as legal adviser to Nox Holding ehf., in relation to acquisition of all shares, issued by Nox Medical ehf., the subsequent restructuring of the Nox Group, and investment by the private equity fund Alfa Framtak, establishing a world leader in sleep diagnostic technology and sleep health solutions.
BBA//Fjeldco advised Icelandair hf. in relation to the sale of Icelandair Hotels and related estates to Berjaya Corporation
BBA//Fjeldco advised Barclays Bank, SEB, ING Belium, Arion Band and BNP Paripas in relation to a USD 150 million credit facility to Landsvirkun, the national power company of Iceland.
BBA//Fjeldco advised Arion Bank (Iceland's largest bank listed in Reykjavik and Stockholm) in relation to its takeover of the Nordic travel group Travelco.
BBA//Fjeldco advised Japan Bank for International Cooperation’s (JBIC) New Energy and Power Finance Department/ Infrastructure and Environment Finance Group in relation to a JBIC Buyer’s Credit of HS Orka.
BBA//Fjeldco acted as the lead counsel of Arctic Green Energy in the debt and equity refinancing of the company and subsidiaries.
We served as the Icelandic advisor to each of the buyers in relation to the private placement of shares in Arion Bank, owned via Kaupthing’s wholly-owned subsidiary, Kaupskil ehf.
BBA//Fjeldco advised Reiknistofa bankanna hf. (“RB”),the Icelandic IT centre for the Icelandic banking sector, in its negotiations and contracts with Arion Bank and Sopra Banking Software, whereby RB provides Arion Bank with a new deposit and payment system based on Sopra solutions.
BBA//Fjeldco acted as legal advisor to US based Indigo Partners in the potential acquisition of Iceland based Wow Air.
BBA//Fjeldco was a legal advisor to Turkish Development Bank in relating a risk sharing mechanism for geothermal drilling operation in Turkey.
BBA//Fjeldco is providing strategic advice to Strasbourg Metropole region in France, on how to harness geothermal reservoirs in the region.
BBA//Fjeldco was a legal adviser to Norsk Hydro in relation to the acquisition of Isal from Rio Tinto
BBA//Fjeldco acted for Iceland Seafood in relation to the acquisition of Icelandic Iberica, one of the leading exporters of fish. This was one of the biggest takeovers for a listed entity in 2018.
BBA//Fjeldco acted as a legal advisor to Innergex Renewable Energy in the acquisition of Alterra Power Corp., that holds a majority stake in the Icelandic energy producer HS Orka hf. The transaction amounted to the value of USD 1.1 Billion.
BBA//Fjeldco advised Stefnir hf., Iceland’s largest fundmanagement company on all aspects in relation to one of its fund’s acquisition of Iceland's leading pharmacy retail company Lyfja.
BBA//Fjeldco acted as lead Icelandic counsel for the Norwegian company Pareto Securities in Wow air hf.’s USD 60 million bond issue in September 2018.
BBA//Fjeldco acted as legal advisor in refinancing and restructuring of TBJ's operations, which is a fast-growing franchise of the brand Tommi's Burger Joint, an established Icelandic franchisors, with outlets in Iceland, the UK,Denmark, Norway, Italy and Germany.
BBA//Fjeldco was a legal adviser to Alvotech hf. in relation to an equipment financing with respect to a state-of-the-art 12,000 m2 manufacturing and laboratory facility in the Science Park of the University of Iceland of a value of USD 25,000,000.
BBA acted as a legal advisor to Alvotech hf., and Icelandic biopharmaceutical company focused on the development and manufacturing of high quality biosimilars for global markets, during the restructuring of Alvotech hf. BBA also advised on the issuance of USD 300,000,000 by Alvotech Holding A.S. whereas Alvotech hf., Glycothera GMBH, Alvotech Germany GMBH and Alvotech Swiss AG acted as guarantors.
BBA//Fjeldcoacted as legal adviser for Sjóklæðargerðin hf., owner of the Icelandic outwearbrand 66° North, in relation to a USD 30,000,000 investment by Mousse Partners,run by the Chanel family.
BBA//Fjeldco was a legal advisor in relation to the sale of Teva's pharmaceutical factory in Iceland to a group of investors.
BBA//Fjeldco acted for Goldman Sachs in relation to USD 10 million financing of Reykjavik Geothermal Ltd,. and Icelandic geothermal development company focused on the development of high enthalpy geothermal resources for utility scale power production
BBA//Fjeldco was a legal adviser to Nordic Investment Bank in relations to EUR 50 million financing of Össur hf.
BBA//Fjeldco acted as a legal advisor to the shareholders ofVínlandsleið ehf. in relation to acquisition by Reitir hf., Iceland's largestprovider of commercial property for rent, of all shares issues by Vínlandsleiðehf. The transaction was one of the largest M&A transactions in Iceland inthe year 2018 involving a commercial real estate property
BBA//Fjeldco advised Diversis Capital in relation to the acquisition of a majority stake in the software solutions company Tempo, a subsidiary of Origo hf., a listed company in Iceland. The transaction amounted to a value of USD 34.5 million.
BBA//Fjeldco advised Íslandssjóðir - investment fund in relation to an investment into the company Fáfnir Offshore hf. - offshore service company servicing the oil and gas industry in the N-Atlantic.
BBA//Fjeldco was an Icelandic counsel to Alliance Family of Companies in their acquisition of controlling stake in the Icelandic technology company,Kvikna Medical. Kvikna Medical designs and manufactures software for the uptake and processing of health data.
BBA//Fjeldco advised Stefnir hf., Iceland’s largest fund management company, on all aspects in relation to one of its fund’s acquisition of one of Iceland´s leading metalwork companies.
A local counsel to City Bank, LLoyd's, JP Morgan and Morgan Stanley in relation to Brexit Capital Markets
BBA//Fjeldco advised RPC Group PLC in relation to its EUR 386 million acquisition of Promens.
BBA//Fjeldco was a legal adviser to Stefnir hf. in relation to its acquisition of equity in Verne Global (a data center).
BBA//Fjeldco was a legal adviser to the China-based Sanpower group on certain Icelandic legal issues relating to the acquisition of the Highland group (House of Fraser).
BBA // Fjeldco acted as the legal advisor to the investorswhich acquired Keahotels, one of the leading hotel groups in Iceland. BBA //Fjeldco further acted as the lead legal advisor in relation to the financing ofthe transaction.
BBA // Fjeldco acted as the legal advisor to the investorswhich acquired KORTA, one of the leading payment service providers in Iceland.
BBA // Fjeldco acted as the legal advisor to the investorswhich acquired 50% of the issued share capital of Nova, one of the leadingtelecommunication company in Iceland. BBA // Fjeldco further acted as the leadlegal advisor in relation to the financing of the transaction.