Arla’s DKK 1 billion bond loan is fully subscribed
- 29 April 2004
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Arla Foods’ subordinate bond loan of DKK 1 billion is now fully subscribed.
Including the lead banks, Nykredit Bank and Finansieringsinstituttet for Industri og Håndværk, FIH, a total of 28 investors have subscribed to the new Arla Foods’ bond loan. The loan is not listed on the Stock Exchange.
Finance Director Jørn Wendel Andersen said: ”We’re pleased with the low interest rate level and the substantial interest shown by investors. The proceeds from the loan will strengthen Arla’s financial stand-by”.
The loan brings the Group’s solvency on a par with the strategic target of approx. 30%. The loan has a 7 year term with the option to extend for a further 3 years.
Arla Foods is an international dairy company owned by 9,900 farmers from Denmark, Sweden, the UK, Germany, Belgium, Luxembourg and the Netherlands. Arla Foods is one of the leading players in the international dairy arena with well-known brands like Arla®, Lurpak®, Puck® and Castello®. Arla Foods is focused on providing good dairy nourishment from sustainable farming and operations and is also the world's largest manufacturer of organic dairy products.