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.“