Grieg signs sustainability-linked loan package worth €320 million

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Five-year agreement with Nordea and DNB.

The agreement provides for a NOK 750 million (€75 million)term loan, a €75 million term loan, and a NOK 1,500 million (€150 million) revolving credit facility. In addition, Grieg Seafood has access to a NOK 200 million (€20 million) overdraft facility.

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

“The new debt structure will ensure long-term financing of our ongoing operations and at the same time reduce the company’s financial costs. The new facilities will give us the flexibility to implement our strategic priorities and deliver on our long-term ambition for sustainable and profitable growth, while maintaining a robust capital structure in line with our communicated goals,” commented Grieg Seafoods CEO Andreas Kvame.