Salmon Evolution secures NOK 52 million bank debt financing in relation to Kraft Laks

Stock exchange notice

Reference is made to Salmon Evolution ASA’s (“Salmon Evolution” or the “Company”, OSE: SALME) third quarter report where it was stated that the Company was in the process of obtaining bank debt financing in relation to Kraft Laks.

The Company is pleased to announce that it now has entered into binding agreements with Nordea for bank debt financing of up to NOK 52 million on favourable commercial terms, reflecting the solid operational and financial track record of Kraft Laks.

The bank debt financing is split across three separate facilities and will be used as follows:

  • General corporate purposes, hereunder financing of working capital
  • Investments relating to facility upgrades
  • Refinancing of existing NOK 25 million seller’s credit with previous owners of Kraft Laks

Together with the bank debt financing package announced in 2q 2021, Salmon Evolution has during the course of 2021 raised a total of NOK 677 million in bank debt.