FrieslandCampina raises a new loan

FrieslandCampina has signed an agreement for the issuance of private loans for long-term financing. These have a combined value of €496 million. The new loans will replace old ones that expire next year. 

The issuance takes place in ESG-linked notes (environmental and sustainability-linked loans) to private investors on the American market (US Private Placement).

The final settlement of the transaction, the issuance of the loans and the payment, is scheduled for February 1, 2024 and is subject to customary transaction conditions. Once closed and paid, the proceeds will be used to repay maturing debt in 2024. FrieslandCampina has signed an agreement for the issuance of private loans for long-term financing. These have a combined value of €496 million. The new loans will replace old ones that expire next year. Once closed and paid, the proceeds will be used to repay maturing debt in 2024. The loans consist of four tranches with maturity dates in 2032, 2034 and 2036.

According to FrieslandCampina, the issue was enthusiastically received by the market and attracted investors from both Europe and North America. The loans consist of a portion with a value of $100 million and a term until 2032 and another portion with a value of €400 million, with maturities in 2032, 2034 and 2036. The average interest on the loans will be 4,99% .

Hans Janssen, chief financial officer of FrieslandCampina: "The placement (of the loan) strengthens our long-term financing. The overwhelming interest confirms the confidence that investors have in the future of FrieslandCampina."

In April this year, FrieslandCampina placed a loan of €300 million on the German market. This also involved a sustainable 'Schuldschein loan.'

Klaas van der Horst

Klaas van der Horst is a passionate follower of the dairy market and everything related to it. He searches for the news and interprets the developments.

k.vanderhorst@boerenbusiness. Nl

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