ForFarmers N.V. has signed a new €300 million credit facility (multi-currency revolving facility) with an international syndicate of banks. This facility replaces the previous facility, which was also €300 million.
The previous credit facility was signed in 2014 and would mature on January 31, 2020. The new facility expires on July 31, 2024 and includes two one-year extension options. The facility is provided by an international syndicate of banks, consisting of ABN AMRO, HSBC, ING, KBC and Rabobank. Rabobank led the transaction as Coordinator and Documentation Agent and ABN AMRO will act as Facility Agent during the term of the agreement.
The new credit facility facilitates the flexible financing structure, which supports further growth for ForFarmers. ForFarmers has improved specific conditions in the new credit facility compared to the previous facility.