Cermaq ASA : Cermaq refinances long term credit facilities
Cermaq ASA has signed a term sheet with Danske Bank, DNB, Handelsbanken and Nordea to refinance two of its credit facilities amounting to a total of NOK 1.500m, according to Cermaq ASA.
Maturity of the credit facilities has been extended from 2013 to 2016, and the main terms and conditions reflect Cermaq's good credit standing and strong commitment from the Syndicate banks. Together with the recently announced bond issue, the total available long term credit commitments in Cermaq have been increased to NOK 4.600m with an average maturity of 39 months.
The final loan agreement is expected to be in place by the end of 2012, and the funds will be used for general corporate purposes, to support Cermaq's growth strategy.