30/12/14 Updated 06/02/19

Marel extends and increases financing facilities

Marel has secured an amendment and extension of its current long term financing which includes an addition of a Junior facility of EUR 50 million. The changes increase strategic and operational flexibility.

The financing is provided by a consortium of five international banks: ABN AMRO, ING Bank, Landsbankinn, Bayern LB and Rabobank.  The parties will finalize the documentation in the upcoming weeks.

  • The facility of EUR 350 million was originally entered into in November 2010; the outstanding loan amounts to EUR 300 million at the beginning of 2015.
  • The Senior facility is now extended with final maturity in November 2018.
  • The Junior facility adds EUR 50 million maturing in February 2019.
  • Current interest terms are EURIBOR/LIBOR + 250 bps for the Senior facility and +500 bps for the Junior facility, changing in line with financial leverage.

Linda Jónsdóttir, CFO of Marel:

“Marel is grateful for the trust from our banking partners.  The increased and extended financing gives Marel strategic and operational flexibility to support further growth and value creation.“