Grieg Seafood ASA: Signed NOK 3.2 billion senior secured sustainability-linked facilities agreement

(Bergen, Norway, 9 February 2022). Grieg Seafood is pleased to announce that it has today signed a NOK 3.2 billion 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 EUR 75 million term loan, a NOK 1,500 million revolving credit facility. In addition, Grieg Seafood has access to a NOK 200 million overdraft facility.

The sole financial covenant governing the facilities is a minimum equity ratio of 31%, excluding IFRS 16 effects.

Grieg Seafood CEO Andreas Kvame comments:

“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”.

Further information regarding the refinancing will be made available in connection with the company’s Q4 2021 report released on Tuesday, February 15, 2022.

For further enquiries, please contact:
Atle Harald Sandtorv, CFO
Cell phone: +47 908 45 252

About Grieg Seafood ASA
Grieg Seafood ASA is one of the world's leading salmon farmers. Our farms are in Finnmark and Rogaland in Norway, and British Columbia as well as Newfoundland in Canada. Our headquarter is located in Bergen, Norway. Grieg Seafood ASA was listed at the Oslo Stock Exchange in June 2007. More than 750 people work in the company throughout our regions.

Sustainable farming practices are the foundation of Grieg Seafood’s operations. The lowest possible environmental impact and the best possible fish welfare is both an ethical responsibility and drive economic profitability. Towards 2025, we aim for global growth, cost improvements and to evolve from a pure salmon supplier to an innovation partner for selected customers.

To learn more, please visit www.griegseafood.com.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.