Marel has issued bonds amounting to a nominal value of ISK 6.0 billion. The bonds will be listed at Icelandic Stock Exchange as MARL 06 1.
Simultaneously Marel has made a cross currency interest rate swap agreement for a part of the issue that allows repayment of interest and principal after six years.
The bonds are indexed annual coupon bonds with a term to maturity of 6 years. The maturity date is 8 February 2012 and the fixed annual interest rate is 6.00%.
An application will be made to register (listing) the bonds on the Iceland Stock Exchange.
The purpose of the issue is to finance future growth of Marel in accordance with the objectives announced at the general meeting in February.
The bond issue increases the financing cost of Marel in short term.
Landsbanki Securities Brokerage handled the issue of the bonds.
Marel hf’s Managing Director, Hörður Arnarson, is available for further information.
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