Greenyard announces it has refinanced, and scaled back, the Factoring Program by entering into a renewed agreement with its syndicate of factors, Belfius Commercial Finance N.V., BNP Paribas Fortis Factor N.V., KBC Commercial Finance N.V., and ING Commercial Finance Belux N.V., also acting as Agent. The refinancing of this working capital financing instrument once more provides additional stability for Greenyard.
At the request of Greenyard, the Factoring Program has been significantly scaled back to a line of
375m (reduced from € 475m), reflecting Greenyard's objective to structurally reduce the amount factored.
The maturity of the Factoring Program has been extended until March 2024, matching the maturity of the current syndicated loan. The interest margin is currently lower than under the former factoring arrangements and is determined based on a leverage-based margin grid.
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Financial calendar
Q3 trading update
22 February 2022 (before market)
Full year results
15 June 2022 (before market)
Q1 trading update
29 August 2022 (before market)
Half year results
14 November 2022 (before market)
Greenyard Contact
Cedric Pauwels, Group Communications Director T + 32 15 32 42 00 cedric.pauwels@greenyard.group
Dennis Duinslaeger, Investor Relations and Treasury Director T +32 15 32 42 49 dennis.duinslaeger@greenyard.group
About Greenyard
Greenyard (Euronext Brussels: GREEN) is a global market leader in fresh, frozen, and prepared fruit and vegetables, flowers and plants. Counting Europe's leading retailers amongst its customer base, Greenyard offers efficient and sustainable solutions to customers and suppliers through best-in-class products, market leading innovation, operational excellence and outstanding service.
Its vision is to make lives healthier by helping people enjoy fruit and vegetables at any moment, easy, fast and pleasurable, while fostering nature. With around 9.000 employees operating in 19 countries worldwide, Greenyard identifies its people, and customer and supplier relationships, as the key assets which enable it to deliver goods and services worth around € 4,4 billion per annum.
www.greenyard.group
02 February 2022 - 7.45am
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Greenyard NV published this content on 02 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2022 06:58:07 UTC.
Greenyard NV is a global market leader of fresh, frozen and prepared fruit & vegetables, flowers, and plants. Counting Europe's leading retailers amongst its customer base, the group provides efficient and sustainable solutions to customers and suppliers through best-in-class products, market leading innovation, operational excellence and outstanding service.
The vision is to make lives healthier by helping people enjoy fruit & vegetables at any moment, easy, fast and pleasurable, whilst fostering nature.
With around 8,500 employees, Greenyard NV operates in 19 countries worldwide.
GREENYARD NV 
