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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.

 

For further information, contact:

Håkon A. Berg
CEO, Salmon Evolution
+47 411 92 257

Trond Håkon Schaug-Pettersen
CFO, Salmon Evolution
+47 911 91 327

 

About Salmon Evolution

Salmon Evolution is a Norwegian land-based salmon farming company focused on extending the ocean’s potential by transferring the best preconditions offered by the sea to farm fish on land through its hybrid flow-through system technology (HFS). This secures a truly sustainable production process with controlled and optimal growth conditions and limiting operational and biological risk. 

The Company’s first production facility is under construction at Indre Harøy, strategically located on the Norwegian west coast with unlimited access to fresh seawater, renewable energy, established infrastructure for salmon farming, and an educated and experienced work force. The entire project is designed for an annual capacity of approx. 31,500 tonnes HOG.

The Company has also entered into a joint venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG, using Salmon Evolution’s HFS technology.

Salmon Evolution ASA is listed on Oslo Børs under the ticker SALME.

To learn more, please visit www.salmonevolution.no