Nordic Halibut enters into Term Sheet to refinance existing bank facility with a new NOK 100 million overdraft facility
Nordic Halibut AS (“NOHAL”) is pleased to announce that it has entered into a Term Sheet for a NOK 100 million overdraft facility agreement with a Norwegian bank at attractive terms. As a consequence, the previous long term debt facility and overdraft facility will be repaid in full.
The facility includes an uncommitted option of additional financing that will be released in tranches aligned with the planned growth in biomass.
– We are pleased to add a flexible instrument to our capital structure, whilst adhering to our strategy of moderate leverage during our growth-journey towards 9.000 tonnes HOG within 2030, says CEO Edvard Henden.
The new overdraft facility will strengthen NOHAL’s free liquidity and financial headroom to realize its growth-plan, and at the same time enable it to pursue strategic accretive growth options that will support or advance the communicated business plan.
The debt facility is subject to customary documentation and approvals. NOHAL expects closing of the debt facility during Q4 2021.
This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) art. 7 and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. The announcement is made by CFO Kenneth Meyer on 3 November 2021 at 08:00 CET.