Heiploeg has successfully completed a EUR 157 million refinancing effort, allowing it greater flexibility in borrowings and repayments, the Dutch shrimp supplier announced on Friday.
The new three-year facility replaces the existing syndicated bank facility and will provide Heiploeg with the capital it requires to achieve its growth potential in the years ahead.
The agreement involved a syndicate of banks, including Rabobank, ABN-AMRO and Frieslandbank, and the existing shareholders have sold their shares. The balance sheet has been further strengthened through the issue of new shares worth EUR 30 million, which have been placed with the banks’ venture capital firms.
“The refinancing is proof that, even in these difficult economic times, the parties concerned have confidence in our approach to realise efficiency gains in combination with sustainability and innovation,” said Heiploeg CEO Jan-Ernst Veenman.
Added Heiploeg CFO Herman D. Heijtmeijer: “This improved facility gives Heiploeg the flexibility and strength it needs to invest and realise its strategy. We are pleased with the capital support provided by our financiers. They form a solid platform to take the relationship forward.”
