Marel inks new $300 million three-year term loan at SOFR plus 250 bps

By Wendy Van Sickle

Columbus, Ohio, Nov. 2 – Marel hf said it has signed a new $300 million three-year term loan with initial pricing of SOFR plus 250 basis points, according to a news release.

The margin on the term loan will move in line with the net debt/EBITDA ratio and has a two-year uncommitted extension option.

A portion of the new loan will be used to repay the €150 million bridge facility drawn for operational headroom when the company was acquiring Wenger.

The loan was signed with the same group of banks that provide the company’s €700 million revolver, which are ABN Amro, BNP Paribas, Danske Bank, HSBC, ING, Rabobank and UniCredit.

The food industry holding company is based in Gardabaer, Iceland.

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