Borregaard has today entered into three bilateral multicurrency revolving credit
facility agreements with DNB Bank ASA, Skandinaviska Enskilda Banken AB (publ)
(«SEB») and Handelsbanken, Norwegian Branch of Svenska Handelsbanken AB (publ),
respectively. The facilities, which are linked to sustainability targets, amount
in total to NOK 1,500 million, with each bank providing NOK 500 million.
The margin under the respective facilities can be adjusted based on Borregaard's
progress on three parameters: (i) the Group's 2030 target of reducing
greenhouse gas emissions (Scope 1 and 2) by 53% compared with 2009 as approved
by the Science Based Target initiative, (ii) reduction of the Group's total
recordable injuries and (iii) keeping emissions of organic compounds to the
Glomma river below certain levels.
The facilities have tenors of three and five years with two one-year extension
options. The new facilities are for general corporate purposes and replace the
NOK 1,500 million revolving credit facilities with maturity in 2021.
SEB acted as Sustainability Coordinator for the facilities and Handelsbanken
Capital Markets, Svenska Handelsbanken AB (publ) acted as Documentation Agent.
Sarpsborg, 7 July 2020
Contact:
CFO, Per Bjarne Lyngstad, mobile +47 952 44 515
This information is subject to the disclosure requirements pursuant to Section
5 -12 of the Norwegian Securities Trading Act.