Marel hf. - Company Announcement

Marel extends maturity of financing and converts all loans to senior level

Today, Marel is pleased to announce that it signed an amend & extend of its
current long-term financing entered into in November 2010, originally in the
amount of EUR 350 million. 

A consortium of international banks: ABN AMRO, Friesland Bank, ING Bank,
Landsbankinn, LB Lux and Rabobank agreed to amend the terms of the original
credit facilities with effective date on 31 December 2012. While the terms and
conditions generally remain in line with Loan Market Association (LMA)
corporate standards, the key amendments are: 

  -- The junior loan is converted into senior debt, making it an all senior
     facility.
  -- The remaining tenor is four years as the facility is extended by one year
     with final maturity in November 2016 as opposed to November 2015.
  -- Initial interest terms are EURIBOR/LIBOR +250 bps for the facility
     depending on leverage.

Erik Kaman, CFO:

“We are very satisfied with the financing structure of Marel agreed in 2010 and
the bank consortium supporting it.  Now we have amended the facility on
favourable terms to an all senior structure and prolonged the facilities by one
year. This will allow us to further reduce interest costs and support the
company‘s long term strategy and goals.“ 



For further information, please contact:

Helga Björk Eiriksdottir, Investor and Public Relations Manager,

Helga.eiriksdottir@marel.com, tel: (+354) 563-8453





About Marel

Marel is the leading global provider of advanced equipment, systems and
services to the fish, meat and poultry industries. With offices and
subsidiaries in more than 30 countries and a global network of more than 100
agents and distributors, we work side-by-side with our customers to extend the
boundaries of food processing performance. Advance with Marel for all your
processing needs.