Útgerðarfélag Reykjavíkur hf. held a private auction of bills in two series on Wednesday, February 24th. This is the company's third auction in less than six months, and the first of this year. The auction was very successful, as in previous instances. Bids totaling 3,500 million ISK were received from 14 parties, which was significantly more than in the last auction. ÚR decided to accept bids for 3,000 million ISK at an average interest rate of 3.55%, with the spread over Reibor decreasing by 0.15% from the previous auction. Arctica Finance hf. managed the auction.
ÚR is currently working with Arctica Finance on the preparation of a long-term bond issuance, which will be announced in the near future.
ÚR is a robust fishing company that focuses on profitability and the sustainable use of resources. Through strategic investments in fishing quotas and solid fishing companies in Iceland and Greenland, the company has built up assets valued at approximately 430 million euros. The company's equity ratio was 55.7% at mid-year 2020. The company's operations are currently threefold. Firstly, ÚR is a traditional Icelandic fishing company specializing in the operation of freezer trawlers. Secondly, the company is the largest shareholder in Brim hf., which is the only listed fishing company in Iceland, and thirdly, the company works on innovation and product development in the fishing industry through its subsidiary, ÚR Innovation. ÚR is a founding member of the SFS social policy, as companies within the SFS framework have established a corporate social responsibility policy based on the United Nations Sustainable Development Goals.
