BAKKAFROST - Refinancing of bank facilities
With reference to the release of 25 September 2019, Bakkafrost is pleased to announce that is has entered into binding agreements relating to two fully secured five-year credit facilities of in aggregate EUR 352m (the “New Facilities”).
The purpose of the New Facilities is to refinance Bakkafrost’s existing bank facilities, to partly fund the acquisition of shares in the Scottish Salmon Company and to secure a robust, flexible and long-term financing tailored to match the Group’s ambitions for organic and strategic growth. The New Facilities will comprise a EUR 95m multicurrency term loan facility and a EUR 257m multicurrency revolving loan facility and allows for a future increase of the facilities of up to EUR 150m subject to agreement with lenders.
The banking group consists of reputable institutions with a strong and diverse skill set, and includes Coöperatieve Rabobank U.A, DNB Bank ASA and Nordea Bank ABPm (Filial i Norge).
The New Facilities are expected to become effective in December 2019.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
For further information, please contact;
Regin Jacobsen, CEO of P/F Bakkafrost: +298 235001 (mobile)
Høgni Dahl Jakobsen, CFO of P/F Bakkafrost: +298 235060 (mobile)