Salmon Evolution ASA (“Salmon Evolution” or the “Company”, OSE: SALME) refers to the stock exchange notice dated 16 April 2021 where the Company announced that it had signed a committed term sheet (the “Term Sheet”) with Nordea and Sparebanken Vest (jointly the “Lenders”) for a senior secured debt financing package of up to NOK 625 million relating to its phase 1 build out at Indre Harøy.
As communicated in the announcement, the Term Sheet included a reservation for a separate long term loan facility of NOK 140 million with a third-party lender (the “Third-Party Loan) as part of the debt financing package.
Salmon Evolution is pleased to inform that it has now signed an agreement for a NOK 140 million long term loan facility with Innovation Norway at highly competitive commercial terms (the “IN Facility”).
Mr Trond Håkon Schaug-Pettersen, CFO of Salmon Evolution comments:
“We are very pleased with being able to continue to attract strong support from leading financial institutions. Innovation Norway has supported us from the beginning, and as such it only feels natural to have Innovation Norway playing a vital role in our financing platform as we steadily approach completion of Indre Harøy phase 1.”
Mr. Helge Gjerde, Regional Director of Innovation Norway comments:
“Facilitating innovation and development of Norwegian enterprises and industries are the core purpose of Innovation Norway and our support to Salmon Evolution is a perfect example on how we execute on that strategy. Salmon Evolution not only challenges the traditional salmon farming industry, it does so in a truly sustainable way by utilizing the best natural preconditions of the ocean to farm salmon on land in a closed system while creating an optimal living environment for the fish.”
The IN Facility will be subject to a customary coordination agreement with the Lenders.
The process of finalizing the loan documentation with the Lenders are in its final stage and the Company expects signing of definitive agreements shortly.