BAKKAFROST: REFINANCING
Bakkafrost is pleased to announce an agreement to refinance its existing bank facilities and its outstanding NOK 500m bond, which has a maturity during Q1 2018, with a senior secured five year EUR 200m credit facility ("Facility"), with its existing lender Nordea. The Facility includes an accordion increase option, which provides flexibility for the parties to agree an increased size of the facility by further up to EUR 200 million during the term of Facility. The principal financial covenants of the Facility are; (1) an equity ratio of no less than 35% and (2) an interest coverage