Icelandair raises $35million

Icelandair Group, the national carrier of Iceland, has raised $35 million in a new secured financing from sole lender and facility agent CIT. The loan forms part of a refinancing due to the redemption of bonds issued by the company earlier this year. “We were pleased to work with CIT on securing this financing that further strengthens the financial position of Icelandair Group and represents the first transaction involving Icelandair and CIT,” said Eva Sóley Guðbjörnsdóttir, chief financial officer for Icelandair Group. “We worked closely with Icelandair to understand their requirements and structure a financing agreement that meets their needs