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Mowi ASA (OSE: MOWI): Enters into Term Sheet to refinance existing bank facility with a new EUR 1,800 million sustainability-linked facility

Written by Customer Service on . Posted in Public Companies.

Mowi ASA has today entered into a Term Sheet to refinance its existing bank facility with a EUR 1,800 million five-year senior secured sustainability-linked multicurrency revolving credit facility with DNB Bank ASA, Nordea Bank Abp, filial i Norge, Coöperatieve Rabobank U.A., ABN AMRO Bank N.V., Danske Bank A/S, Skandinaviska Enskilda Banken AB (publ) and Crédit Agricole Corporate & Investment Bank.

Interest on the facility is linked to Mowi’s performance against sustainability KPIs which are consistent with Mowi’s overall ESG strategy, and the sustainability-linked facility is a significant step towards Mowi’s goal of 100% green or sustainable financing. The principal financial covenant of the facility is a minimum equity ratio of 35%, and the facility includes an accordion increase option which provides flexibility for the parties to agree to increase the size of the facility by an additional EUR 300 million during the term of the facility.

The refinancing is subject to final documentation.

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

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