Banking, finance and capital markets in Iceland

BBA//Fjeldco

BBA//Fjeldco has extensive experience in advising buyers, sellers, and financial parties on all aspects of banking and finance, including complex multi-jurisdictional financing transactions. Led by Bjarki Diego and Halldór Karl Halldórsson, the practice actively contributes to the development of Icelandic law-governed loan documentation and is a trusted adviser to the Icelandic Ministry of Finance. Diego has over 30 years of expertise in banking, finance, and capital markets law, while Halldórsson specialises in corporate law, bankruptcy work, restructurings, and M&A. Other key figures include Ásgeir Ragnarsson, who advises international corporations and financial institutions on a broad range of corporate and commercial matters, and Stefán Reykjalín, who supports foreign institutions and fund managers with Icelandic regulatory issues, including licensing requirements. Sara Rut Sigurjónsdóttir is a notable name for significant corporate loan agreements and M&A transactions.

Praxisleiter:

Bjarki Diego; Halldór Karl Halldórsson


Weitere Kernanwälte:

Ásgeir Ragnarsson; Stefán Reykjalín; Sara Rut Sigurjónsdóttir


Kernmandanten

Ministry of Finance


Oculis


Kroll Trustee Services Limited


Crusoe Iceland ehf. and Crusoe Energy Systems LLC


ECAM LP


Highlight-Mandate


  • Advised Alvotech and its subsidiaries, including Alvotech hf., on a $965m senior secured first lien term loan facility to refinance debt obligations and support working capital for ongoing and upcoming launches.
  • Advised the Ministry of Finance in Iceland on structuring and implementing a program to purchase real estate in Grindavík, displaced by volcanic eruptions, including drafting the legal framework and negotiating debt restructuring with Icelandic lending institutions.
  • Advised Oculis on the dual listing of its shares on Nasdaq Iceland’s main market and the Nasdaq Global Market, including drafting and submitting the prospectus for approval to the Central Bank of Iceland’s Financial Supervision Authority, in a complex, multi-jurisdictional transaction involving a Swiss entity.

Lex Law Offices

Lex Law Offices provides advice on all aspects of the financial markets and the operations of financial market participants, whether relating to regulations, negotiations, documentation, or other issues. The firm’s ‘very strong capital markets law team’ is highly skilled in navigating the complex economic, political, and regulatory landscape that affects both regulated entities and capital market instruments. The practice is led by Ólafur Haraldsson, who is an expert in the documentation of loan and security agreements, corporate finance work, M&A, and restructurings. Stefán Orri Ólafsson provides expert advice to clients on all aspects of capital markets, while Guðmundur Ingvi Sigurðsson  has extensive experience in helping companies and banks secure funding through share capital increases, loans, bonds, and other financial instruments. Fanney Frímannsdóttir is a key figure to note when it comes to the documentation of debt and equity finance.

Praxisleiter:

Ólafur Haraldsson


Weitere Kernanwälte:

Stefán Orri Ólafsson; Guðmundur Ingvi Sigurðsson; Fanney Frímannsdóttir


Referenzen

‘Very strong capital markets law team.’

‘Stefán Orri Ólafsson is an authority on securities and capital markets laws and regulation in Iceland.’

Kernmandanten

Landsbankinn hf.


Apax Partners LLP


Natixis


Highlight-Mandate


  • Advised Landsbankinn hf., an Icelandic bank in which the Icelandic state owns approx. 98% stake, on its acquisition of TM hf., an Icelandic insurance company in a closed auction process.
  • Advised Arnarlax, an Iceland based aquaculture company, on the dual listing of its shares on the Icelandic Nasdaq First North Market.
  • Advised Landsbankinn hf. and Fossar Investment Bank hf. on a syndicated loan to Amaroq Minerals and its subsidiaries.

LOGOS

LOGOS excels at large-scale banking, finance, and capital market transactions, frequently representing lenders while also offering top-tier advice to borrowers, regulatory support, litigation services, and private equity and venture capital counsel. The practice is co-led by Óttar Pálsson, who has expertise in banking work, corporate financings, capital markets issues, financial restructurings, and M&A. Co-head Thórólfur Jónsson is well-versed in corporate law and finance work, financial services issues and the related regulations, restructurings, and litigation. Key partner Fannar Freyr Ívarsson has experience in venture capital investments, scaling challenges for rapidly growing companies, and financial transactions related to aircraft, including purchases, sales, and leases.

Praxisleiter:

Óttar Pálsson, Thórólfur Jónsson


Weitere Kernanwälte:

Fannar Freyr Ívarsson


Kernmandanten

Goldman Sachs International


Morgan Stanley


Arion Bank hf.


Icelandic State Financial Investments


Islandsbanki hf.


Kaupthing ehf.


Landsvirkjun


Marel hf.


Novator Partners LLP


Origo hf.


Sidekick Health AB


Wells Fargo Bank, National Association


Highlight-Mandate


  • Advised Goldman Sachs Bank USA and Wells Fargo Bank, National Association on their financing of John Bean Technologies Corporation’s tender offer for all shares in Marel hf., an Icelandic publicly registered company.
  • Advised Brim hf., a leading publicly registered Icelandic fisheries company, in its completion of a €220m sustainability-linked syndicated loan facility provided by three leading international banks to service both the European and global fisheries sector.
  • Advised Icelandic Pension Funds on its dispute with the Government of Iceland over the Finance Minister’s plans to pass legislation enabling the bankruptcy of IL-sjóður, a government entity providing mortgage loans for housing and construction projects.

ADVEL Attorneys at Law

ADVEL Attorneys at Law has significant expertise in banking and finance regulation, particularly in EU law and the European System of Financial Supervision. This includes advising Arion Bank on matters related to its funding, client loans, and providing legal counsel across other relevant aspects of its operations. The practice is co-led by Dóra Sif Tynes, who is a prominent consultant to public institutions and companies on EEA and EU law, and Stefan Þór Ingimarsson, who specialises in both domestic and cross-border company law, corporate governance issues, and insurance work.

Praxisleiter:

Stefan Þór Ingimarsson; Dóra Sif Tynes


Referenzen

‘Stefán Þór Ingimarsson is very well-connected in the local market and has a strong presence with the major Icelandic players. He is likeable, swift and a very gifted lawyer always focused on finding the best and most cost efficient solutions for his clients.’

‘Strong team with extensive experience in the field.’

‘Stefán Þór Ingimarsson – strong all round knowledge. Very customer focused. Dóra Sif Tynes – Good international experience. Strong background in EU regulations and directives.’

Kernmandanten

Arion Bank


Hampidjan


VÍS (Iceland Insurance Company)


Highlight-Mandate


  • Advised Arion Bank on its EMTN programme.
  • Advising Arion Bank on its Covered Bond programme.

Juris

Juris provides a comprehensive range of services, advising across all areas of banking and finance, with a particular focus on transactions, regulatory matters, and project finance mandates. This includes large-scale financing projects across various sectors, including the fishing, shipping, energy and hospitality spaces, and property development issues. The practice is co-led by Halldór Jónsson, Andri Árnason, and Sigurbjörn Magnússon. Árnason specialises in tax litigation and has significant experience in banking and financial regulatory matters. Hildur Þórarinsdóttir advises on financial regulatory issues and GDPR within the context of financial business, and Ingvar Ásmundsson is recommended for debt financing mandates.

Praxisleiter:

Halldór Jónsson; Andri Árnason; Sigurbjörn Magnússon


Weitere Kernanwälte:

Hildur Þórarinsdóttir; Ingvar Ásmundsson


Kernmandanten

Kvika banki hf.


KvikaÍslandsbanki hf.


KvikaÍsfélag hf.


Highlight-Mandate


  • Advised HS Orka on its $290m senior debt financing.
  • Advised Samtök fjármálafyrirtækja (Finance Iceland) on the financing of the purchase of all residential housing in the town of Grindavík.
  • Advised Landsbankinn hf. in cases regarding the legality of variable interest rates in consumer mortgages.

Lagahvoll

Lagahvoll‘s ‘highly qualified and very experienced’ team works both on drafting and negotiating contracts as well as project management work, including handling large projects such as a bond issuances, whereby the department oversees the communication between the issuer, financial advisers, regulators and other related parties. Daði Bjarnason and Jóhann Tómas Sigurðsson lead the team; Bjarnason has extensive experience in financings, restructurings, and M&A, and Sigurðsson has strong expertise in corporate and financial matters.

Praxisleiter:

Daði Bjarnason; Jóhann Tómas Sigurðsson


Referenzen

‘Very smart and solution-oriented.’

‘Highly qualified and very experienced.’

‘Highly efficient and skilled lawyers that provide tailor-made service to meet the client’s goal. Short response time and well-constructed work.’

Kernmandanten

Dohop ehf.


Carbon Iceland ehf.


Félagsbústaðir hf. (Reykjavík Social Housing)


Iceland Food ehf.


Element ehf. (green housing)


Ísorka ehf.


Landslog – Law Offices

Landslog – Law Offices specialises in bankruptcy and financial restructuring work, offering comprehensive legal services in these areas. The firm’s attorneys have extensive experience representing bankrupt companies and winding-up estates in court, advising creditors, and assisting company executives with various financial restructuring matters. The department is led by Jóhannes Karl Sveinsson, Jóhannes Bjarni Björnsson, and Viðar Lúðvíksson, who have a wealth of expertise in banking and financial law, insurance issues, and the associated negotiations and litigation.

Praxisleiter:

Jóhannes Karl Sveinsson; Jóhannes Bjarni Björnsson; Viðar Lúðvíksson


Kernmandanten

Isavia (Icelandic Airport and Air Traffic Management)


Hagar hf. (largest retailer in Iceland, a listed company)


Syn hf./ Vodafone Iceland


Central Bank of Iceland


Hekla (Audi, VW, Mitsubishi dealership)


Islandsbanki – bank


Arctic Fish


The Icelandic Housing and Construction Fund


Alma


Lifsverk Pension Fund


Highlight-Mandate


  • Advised Isavia (The Icelandic Airport and Air Traffic Management) on a private note placement (issue and sale of notes) in the US in the amount of €175m.
  • Advised Arctic Fish group during the initial refinancing and both amendments. The lenders are the Arion Bank hf. and the Norwegian bank DNB Bank ASA.