BYR – sparisjóður
– Byr negotiates with foreign creditors
BYR - sparisjóður / Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Byr Savings Bank has successfully negotiated with its foreign creditors regarding loan contracts which require a minimum equity ratio exceeding that which is required by laws governing financial companies. The agreement involves a temporary dispensation with the capital requirement exceeding the legal minimum. All of Byr's foreign creditors unanimously agreed to the contract. Ragnar Z. Guðjónsson, CEO of Byr Savings Bank, says that the contract is vital to the bank since it ensures that foreign creditors give it enough space to work its way out of the financial crunch. Ragnar says that in light of the difficult situation in international financial markets, the agreement between Byr and its foreign creditors is a great coup for the Savings Bank. Further information Ragnar Z. Guðjónsson, CEO of Byr Savings Bank, tel. (+354) 575-4000. News Source: NASDAQ OMX 08.04.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: BYR - sparisjóður Iceland Phone: Fax: E-mail: Internet: ISIN: IS0000010361 WKN: End of News DGAP News-Service ---------------------------------------------------------------------------
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