Faroe Islands secures 900 million krona loan to refinance debt

The Faroese government has raised 900 million krona through a bond sale to refinance an existing loan due for repayment on 19 June, national broadcaster KVF reports.

The new four-year loan, maturing on 3 June 2030, carries an effective interest rate of 2.892%, down 0.76 percentage points from the 3.651% rate on the debt being refinanced. Landsbankin and Nordea Bank managed the bond issuance, which attracted demand exceeding the 900 million krona target.