Salmon Evolution ASA: Strengthening financial flexibility with new loan facilities
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | Oslo Bors |
| Sektor | Handel & varor |
| Industri | Dagligvaror |
Salmon Evolution ASA (the “Company”, OSE: SALME) has entered a credit facility of up to NOK 250 million with DNB Bank ASA and Nordea Bank Abp, Norwegian branch. The new facility is based on customary market terms and has a tenor of 12 months with an option to extend another 6 months, subject to lenders’ consent. The new loan facility has obtained relevant credit committee approvals and is subject to customary closing conditions, including final documentation. Additionally, the Company has entered into an agreement to increase its current overdraft facility with Nordea Bank Abp, Norwegian branch, from NOK 150 million to NOK 200 million.
The purpose of the new facility is to strengthen the Company’s financial flexibility in light of a softer than expected salmon market over the last 12 months. A portion of the new facility is dedicated to the planned pre-grow-out department at Indre Harøy. As reported in the Q1 2025 presentation the Indre Harøy phase 2 construction project is progressing according to plan.
Pursuant to the Company’s existing loan facilities, the Company is subject to various financial covenants. Reflecting, as mentioned, the softer than expected salmon market, the Company has also agreed with its lenders to amend the EBITDA covenant requirements through 2025.
This information is considered to constitute inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Trond Vadset Veibust, CFO, Salmon Evolution ASA, on 12 June 2025 at 07:00 CEST.