Morpol signs new debt facility

December 22, 2010 16:44
Morpol ASA announces the signing of a EUR 250 million 5-year debt facility, which will be used to consolidate and refinance existing loans and increase operational and strategic flexibility going forward, reports with reference to Morpol.
The leading banks, DnB NOR and Rabobank are the mandated lead arrangers and have committed a long-term senior secured facility with a term of five years for EUR 250 million. Morpol had a net interesting bearing debt of EUR 156 million at the end of third quarter.
Jerzy Malek, Morpol CEO commented: "This is an important milestone for the success of strengthening our position as the world leader in smoked salmon and to build a platform for further growth in the salmon processing and farming industry. I am pleased that DnB NOR and Rabobank have recognised our leading position and put in place these facilities at competitive terms".
For further information, please contact:
Steven Rafferty, Chief Financial Officer, phone +47 97 66 41 04
About Morpol
The Morpol Group is engaged in salmon processing as well as sale and distribution of finished salmon products. The Morpol Group's main products are: cold and hot smoked salmon, gravadlax, fresh salmon fillets, frozen salmon portions, organic salmon, wild salmon and salmon specialties. The Morpol Group also has salmon farming activities in Scotland since 2010. The Morpol Group had revenue of approximately EUR 340 million in 2009.
Founded in 1996 in Ustka on the Baltic coast of Poland, the company employs over 3,000 people in eight countries. Morpol Group is the world leader in smoked salmon. The company has achieved its world leading position through the efficiency of processing activities, a constant focus on product quality and service provided to retail and food service customers. Morpol serves customers across Europe, Japan and the United States.
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