Next Generation Partners

Leading Associates

Banking, finance and capital markets in Iceland

BBA//Fjeldco

BBA//Fjeldco covers all areas of banking and finance, with a strong reputation for handling complex financings, including those involving multijurisdictional elements. The group contains a number of lawyers qualified in England and Wales in addition to Iceland, facilitating sophisticated guidance on cross-border matters. Bjarki Diego covers a broad range of M&A, capital markets, and finance deals, and co-leads the department alongside managing partner Halldór Karl Halldórsson, whose areas of expertise include corporate financings and investments, securities issues, competition law, and bankruptcy and restructuring work. Also key are highly experienced founding partner Ásgeir Ragnarsson, who advises prestige international clients on a spectrum of corporate and commercial matters, and Gunnar Thor Thorarinsson, who leads the London office. Stefán Reykjalín, who made partner in early 2023, is also a key name to note.

Responsables de la pratique:

Bjarki Diego; Halldór Karl Halldórsson


Autres avocats clés:

Ásgeir Ragnarsson; Gunnar Thor Thorarinsson; Stefán Reykjalín


Les références

‘Strong technical capabilities and experience in working in capital markets, both locally in Iceland and internationally, makes this firm’s capabilities unique.’

‘Bjarki Diego has vast experience in financing transactions, banking, equities and bonds – which is very valuable to the client.’

‘BBA//Fjeldco have a very solid team and vast experience when it comes to banking and finance in particular. They are generally involved in almost all major transactions in Iceland for a good reason: Their signature quick, no frills advice, which is always well grounded and professional.’

Principaux clients

Kvika bank


Íslandsbanki


Arion Bank


Arctic Green Energy


Lykill fjármögnun


TM


Rapyd Europe


Rotovia


DNB Bank


ABN AMRO


Danske Bank


Strengur Holding


DC Advisory


KfW-IPEX Bank


RPC Group


Alvogen


Alvotech


Barclays Bank


JP Morgan


Citibank


Japan Bank


Stefnir


Principaux dossiers


  • Advised international biopharmaceuticals company Alvotech, as well as its subsidiaries, with respect to the dual listing on Nasdaq Stock Market LLC and Nasdaq First Growth Market in Iceland, as well as with respect to a private investment in public entity (PIPE), prior to the listing, in particular from Icelandic PIPE investors.
  • Advised on the financing of the acquisition of Ardian, by the telecomms operator, Míla ehf. The advice included negotiating the LMA loan documentation, bond issuance documentation, intercreditor agreement and security documentation.
  • Advised on the financing of Sabre Corporation, a travel technology company based in Southlake, Texas.

Lex Law Offices

Lex Law Offices fields a seasoned team of experts, with decades of experience advising banks, financial institutions, and a range of other prominent market participants. The department has notable strength in ESG matters, and during 2023 advised investment banking company Natixis on a $100m senior secured green term loan financing to Verne Global. Department head Ólafur Haraldsson has expertise in loan and security agreements, corporate financings, and restructurings. Other core team members include Supreme Court Attorney Guðmundur Ingvi Sigurðsson, whose primary strengths are in corporate finance and debt restructuring work, and capital markets specialist Stefán Orri Ólafsson. Eva Margrét Ævarsdóttir, who made partner in January 2023, is a leading name for green and sustainable lending.

Responsables de la pratique:

Ólafur Haraldsson


Autres avocats clés:

Guðmundur Ingvi Sigurðsson; Stefán Orri Ólafsson; Fanney Frímannsdóttir; Eva Margrét Ævarsdóttir


Les références

‘The team I had was outstanding. Caring and fighting for my interests. Made the legal jargon simple for a novice to understand, and taught me a lot.’

‘They are on top of things, they were aggressive enough to remind the legal counsel of my investors to know their place and made me never feel alone.’

‘Leaders in Icelandic jurisdiction in a wide range of settings. Very pragmatic and commercial. Can find solutions to unusual problems.’

Principaux clients

Kaldalón


Íslandsbanki


Stefnir hf.


Íslandssjóðir


Landsbréf hf.


Kvika Asset Management


atNorth Holding AB


Treble Technologies


Alfa Framtak hf.


Apax Partners LLP


Natixis


Centerbridge Partner Europe LLP


Vitar games ehf.


Arion banki


Principaux dossiers


  • Representing the creditors of Kaldalón hf., an Icelandic listed real estate company, with regards to the security agency structure. The security agency related to a ISK30bn base prospectus and separate bank loans up to ISK10bn.
  • Acting as the lead legal counsel to Apax Partners which is financing the growth of the Icelandic company Controlant hf. by lending it $40m.
  • Advising Natixis on the Icelandic aspects of a senior secured green term loan financing to Verne Global hf., which is a leading data centre platform in Iceland wholly powered by renewable energy.

LOGOS

LOGOS's full-service team draws in a prestige client list which includes major international names such as Deutsche Bank, Goldman Sachs, and Morgan Stanley. The group is recognised for its strength in capital markets work and comprehensive regulatory assistance, and has recently made substantial efforts to develop its banking and finance offering into a major force. Óttar Pálsson has significant expertise in capital markets, including both contentious and non-contentious matters, and co-leads the department alongside Thórólfur Jónsson, who covers securities regulation advice, corporate funding matters, and financial restructurings. Benedikt Egill Árnason specialises in transactions, and acts for a number of prominent corporate clients and private equity houses, while Guðbjörg Helga Hjartardóttir is noted for her expertise in financial restructurings and corporate finance mandates.

Responsables de la pratique:

Óttar Pálsson; Thórólfur Jónsson


Autres avocats clés:

Benedikt Egill Árnason; Guðbjörg Helga Hjartardóttir; Freyr Snæbjörnsson


Les références

‘I am impressed by the level of project complexity the team can easily handle from different perspectives, and the high quality of process organisation.’

‘I am sure they are number one in the Icelandic legal arena.’

‘Benedikt Egill Árnason stands out. What I really appreciate about Benedikt is his readiness to have your back, and not think for you, but definitely think along with you, accessing all blind spots that you are probably missing.’

Principaux clients

Arion Bank hf.


Islandsbanki


Kaupthing hf.


Goldman Sachs International


Deutsche Bank


Fossar Investment Bank


Alfa Framtak ehf.


Crowberry Capital GP ehf.


Marel hf.


Landsnet hf.


Landsvirkjun


Icelandair


Brim


Novator Partners LLP


Verne Global Data Centres


Origo hf.


New Business Venture Fund


Kerecis hf.


Vordur Insurance


Ministry of Industry and Innovation


Frumtak Ventures ehf.


Eyrir Ventures


DTE ehf.


Morgan Stanley


Laxar eignarhaldsfelag ehf.


Laxar Fiskeldi ehf.


Icelandic State Financial Investments


Nordural Grundartangi ehf.


Archer Norge AS


Sidekick Health AB


Islensk verdbref hf.


Principaux dossiers


  • Advised Islandsbanki hf. on its merger discussions with Kvika banki hf.
  • Advised Brim hf. on its completion of a €220m syndicated loan facility provided by three leading international banks, servicing both the European and global fisheries sector.
  • Representing Icelandic Pension Funds in its debate against the Government of Iceland regarding the Finance Ministers plans to have the Parliament pass a legislation which would allow the bankruptcy of IL-sjodur.

ADVEL Attorneys at Law

ADVEL Attorneys at Law advises a number of prominent domestic banking clients, as well as foreign financial institutions with interests in Iceland. The highly experienced team covers a range of areas, including corporate financings, restructurings and reorganisations, and regulatory matters. Team lead Stefan Þór Ingimarsson has expertise in refinancings and reorganisations, while Dóra Sif Tynes is a key name for EEA and EU law, and Ragnar Guðmundsson has strength in tax law and corporate financings.

Responsables de la pratique:

Stefan Þór Ingimarsson


Autres avocats clés:

Ragnar Guðmundsson; Dóra Sif Tynes; Bjarni Þór Bjarnason


Les références

‘Stefán Þór Ingimarsson – great insight and willing to assist his customers.’

‘Great knowledge of the practice. The team members work in perfect coordination, without overlapping.’

‘Communication skills, efficiency, and professionalism.’

Principaux clients

Arion bank


Hampidjan


Advania Group


Klappir Green Soulutions


VÍS


Oryggismidstodin


atNorth


Samskip


Principaux dossiers


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

Juris

Juris fields a team with core strength in transactions, regulatory issues, and project finance work. The group includes practitioners experienced working both domestically and overseas, and covers a diverse range of sectors including the fishing, energy, hospitality and infrastructure industries. Jointly leading the team are Halldór Jónsson, noted for his tax expertise; Sigurbjörn Magnússon, whose practice includes competition law and contentious matters; and Andri Árnason, who is a specialist in financial litigation. Simon Knight is a key name for project finance and syndicated lending work, while associate Hildur Þórarinsdóttir advises on financial regulatory matters, and previously worked as in-house counsel at Arion Bank.

Responsables de la pratique:

Halldór Jónsson; Andri Árnason; Sigurbjörn Magnússon


Autres avocats clés:

Simon Knight; Vífill Harðarson; Stefán A. Svensson; Ingvar Ásmundsson; Hildur Þórarinsdóttir


Les références

‘The team at JURIS has been active for many years providing legal advice to the fishing industry, and that is something the makes them extremely qualified.’

‘The individuals at JURIS provide practical legal advice. They have considerable experience and are therefore very pragmatic when providing legal advice.’

‘Highly recommended. Responsive, clever and punctual.’

Principaux clients

Summa Rekstrarfélag hf.


Kvika banki


Landsbankinn hf.


GAMMA Capital Management hf.


Ísfélag hf.


Reginn hf.


BRP Bizzozero and Partners SA


Rarik ohf.


Principaux dossiers


  • Representing Landsbankinn hf. in cases regarding the legality of variable interest rates in consumer mortgages.
  • Advised Kvika banki on the development of its payments business, Straumur Greiðslumiðlun.
  • Advised Rarik ohf. on its €20m loan from NIB to finance the replacement of overhead electricity lines.

Lagahvoll

Lagahvoll fields a highly experienced team, with a strong record in financing, investment, and regulatory matters, in addition to coverage of contentious issues. Founding partner Daði Bjarnason has a broad practice, which includes financing, corporate restructuring, and private equity transactions; Bjarnason co-leads the department alongside senior partner Jóhann Sigurðsson, who is described by clients as ‘excellent in every aspect of his work’.

Responsables de la pratique:

Daði Bjarnason; Jóhann Sigurðsson


Les références

‘Clients give them high appraisals for their knowledge and expertise, commitment to their clients’ needs, as well as being quick to resolve complex matters.’

‘I have had experience with both Jóhann Sigurðsson and Daði Bjarnason. They are both very experienced in their field and good to work with. Being a small boutique firm, they both go all in when needed and give their clients a personal service they appreciate.’

‘They are really quick to respond to urgent matters and always find time to give us good advice.’

Principaux clients

Dohop ehf.


Data Lab Ísland ehf.


Félagsbústaðir hf.


Carbon Iceland ehf.


Traveo ehf.


Vistbyggð ehf


Félag eldri borgara í Reykjavík og nágrenni


Pikkoló ehf.


Ísorka ehf.


Reon ehf.


Fagkaup ehf.


Landslog – Law Offices

Landslog – Law Offices is a popular choice for leading domestic banks and corporations, and is noted for its strength in bond issuances; during 2023, the team advised Isavia on a €175m private note placement in the US. Jóhannes Karl Sveinsson, Jóhannes Bjarni Björnsson and Viðar Lúðvíksson co-lead the department.

Responsables de la pratique:

Jóhannes Karl Sveinsson; Jóhannes Bjarni Björnsson; Viðar Lúðvíksson


Principaux clients

Isavia


Hagar hf.


Syn hf./ Vodafone Iceland


Central Bank of Iceland


Hekla


Islandsbanki


Arctic Fish


The Icelandic Housing and Construction Fund


Alma


Lifsverk Pension Fund


Principaux dossiers


  • Advised Isavia (The Icelandic Airport and Air Traffic Management) on a private note placement (issue and sale of notes) in the US to the amount of €175m.
  • Provided legal counsel to the Arctic Fish group during an initial refinancing and both amendments. The lenders are the Arion Bank hf. and the Norwegian bank DNB Bank ASA.
  • Advised e-sports club Dusty on finalising a share capital increase.