KARLSHAMN, Sweden--(BUSINESS WIRE)--Regulatory News:
AAK (STO:AAK) has signed two new fully committed credit facilities. The facilities will be used to refinance existing facilities which mature during the autumn 2011 and to finance current operation and potential acquisitions. Both loan agreements have a maturity of five years and are fully committed facilities.
One of the new credit facilities is a ”Multicurrency Revolving Facility”, a club deal of EUR 330 million (SEK 3.000 million) with Nordea, Handelsbanken and Nykredit. All banks contribute with equal share. Nordea has acted as Co-ordination Agent. The other loan agreement is a USD 180 million (SEK 1.200 million) bilateral ”Multicurrency Revolving Facility” with Nordea. The new loans together with the seven year loan of SEK 1.000 million with Nordea signed during the summer 2010 and partly guaranteed by EKN – implies that AAK has prolonged the debt maturities significantly. Altogether, the Group now has committed credit facilities aggregating SEK 6.000 million with a maturity of five years or more. The new loan terms also includes significantly enhanced flexibility concerning increased raw material prices.
AarhusKarlshamn is the world’s leading producer of high value-added speciality vegetable fats. These fats are characterized by a high technological content and are used as substitute for butter-fat and cocoa butter, transfree solutions for fillings in chocolate and confectionery products, and in the cosmetics industry. AarhusKarlshamn has production facilities in Denmark, Mexico, the Netherlands, Sweden, Great Britain, Uruguay and the US. The company is organised in three Business Areas; Chocolate and Confectionery Fats, Food Ingredients and Technical Products & Feed. Further information on AarhusKarlshamn can be found on the company’s website www.aak.com.
The information is that which AarhusKarlshamn AB (publ) is obliged to publish under the provisions of the Stock Exchange and Clearing Operations Act and/or the Trading in Financial Instruments Act. The information was released to the media for publication on 31 January 2011 at 8.30 a.m. CET.
This information was brought to you by Cision http://www.cisionwire.com