Grieg agrees £268m refinancing deal
Grieg Seafood, which farms salmon in Norway and Canada, today announced the signing of a NOK 3.2 billion (£268 million) five-year senior secured sustainability-linked facilities agreement with DNB Bank ASA and Nordea Bank to refinance its existing bank facilities.
The agreement provides for a NOK 750 million term loan, an €75 million term loan, and a NOK 1.5 billion revolving credit facility. In addition, Grieg Seafood has access to a NOK 200 million overdraft facility.
Grieg Seafood chief executive Andreas Kvame said: “The new debt structure will secure the long-term financing of our ongoing operations and at the same time reduce the company’s financial costs.
“The new facilities will provide the flexibility for us to execute our strategic priorities and to deliver on our long-term ambition of sustainable and profitable growth, while maintaining a robust capital structure in line with our communicated targets.”
