Greenyard announces €420M refinancing deal
The multinational produce company recently announced a new financing agreement for 420 million euros.
The contract consists of a 220 million euros senior secured term loan A and a 200 million senior secured revolving credit facility with a syndicate of banks, consisting of existing and new lenders.
The total amount gives Greenyard room to grow over the five-year maturity of the loans.
This also helps secure financial stability in an uncertain macroeconomic and geopolitical environment to execute its Strategy 2030.
Upon closing, the proceeds will be used to refinance the existing loans. A significant part of the floating debt rate has been pre-hedged, already before summer.
Geert Peeters, CFO of Greenyard, said: “We are pleased to see the trust of our banks, existing and new, in the future of this company”.
Peeters explained: “We believe that fruit and vegetables are at the heart of current consumer trends. They are the core of healthy and sustainable diets, and with Greenyard we play an important role in delivering these products to consumers across the world”.
“We are excited to have smoothly closed this refinancing and secured the financial stability for our journey over the coming five years”, assured the exec.