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)
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Bakkafrost P/F published this content on 09 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 December 2019 12:10:02 UTC
P/F Bakkafrost is a Faroe Islands-based salmon producer that offers a wide range of healthy and nutritious salmon products from its own facilities. The Companyâs product portfolio includes fresh whole salmon, fresh salmon fillets, frozen salmon fillets, frozen retail-box salmon burgers, frozen smoked salmon, as well as salmon skin. P/F Bakkafrostâs activities are divided into four segments: Farming Segment - Faroe Islands (FO), Farming Segment - Scotland (STC), Value Added Products (VAP) Segment and Fishmeal, -Oil and Feed (FOF) Segment. The Company has several subsidiaries, including Bakkafrost Danmark ApS, Scottish Salmon Company Ltd, Bakkafrost Packaging P/F and Bakkafrost Processing P/F.
BAKKAFROST 
