Investors

Extension and amendment of financing facilities finalized

05 May 2017

With reference to Marel’s Q1 2017 announcement made on May 3, 2017, regarding extension and amendment of the company’s financing facilities, it can be confirmed that all documentation has now been finalized and the agreement becomes effective as of today, May 5, 2017.

This provides Marel with increased strategic and operational flexibility to support the ambitious growth plan introduced at Marel’s Annual General Meeting in March 2017.

Linda Jonsdottir CFO of Marel:

“We are pleased to announce an extension to and amendments of our financing agreement which provides us with increased operational and strategic flexibility to support our ambitious growth plan. We are grateful for the continued trust from our banking partners and appreciate the very good cooperation.“

The extended and amended financing is at favorable terms and conditions reflecting Marel’s financial strength and current market conditions. The all senior loan facilities are approximately 640 million EUR and include a EUR 325 million revolving credit facility, a EUR 243 million term loan as well as a USD 75 million term loan. The initial interest terms are EURIBOR/LIBOR + 185 bps and will vary in line with Marel’s leverage ratio (Net debt/EBITDA) at the end of each quarter. The final maturity is in May 2022.