Marel hf. - Company Announcement

Marel extends and increases financing facilities.

Marel has secured an amendment and extension of its current long term financing
which includes an addition of a Junior facility of EUR 50 million. The changes
increase strategic and operational flexibility. 

The financing is provided by a consortium of five international banks: ABN
AMRO, ING Bank, Landsbankinn, Bayern LB and Rabobank.  The parties will
finalize the documentation in the upcoming weeks. 

• The facility of EUR 350 million was originally entered into in November 2010;
the   outstanding loan amounts to EUR 300 million at the beginning of 2015. 
• The Senior facility is now extended with final maturity in November 2018.
• The Junior facility adds EUR 50 million maturing in February 2019.
• Current interest terms are EURIBOR/LIBOR + 250 bps for the Senior facility
and +500 bps for the Junior facility, changing in line with financial leverage. 

Linda Jonsdottir CFO of Marel:

“Marel is grateful for the trust from our banking partners.  The increased and
extended financing gives Marel strategic and operational flexibility to support
further growth and value creation.“