TSL Express Daily News

ForFarmers secures new credit facility

ForFarmers N.V. has signed a new credit facility for an amount of €150 million with an international banking syndicate. In addition, a €125 million working capital financing facility will become operational in mid-Q3 2025. To bridge the implementation period, a credit facility has been agreed with Rabobank. These facilities replace the previous financing agreement of €300 million. In addition, the activities of the joint ventures in Poland and Germany will, going forward, be financed separately through local arrangements. 

The former financing agreement had a final maturity date of 25 July 2026. The new facility matures on 31 July 2030, with the option to extend it twice by a one year period. The facility has been arranged by an international syndicate of banks consisting of ABN AMRO, BNP Paribas, HSBC, ING, Rabobank and SEB. ABN AMRO acted as coordinator of the documentation process. BNP Paribas and HSBC acted as joint sustainability coordinators. 

The interest rate on this credit facility is linked to sustainability indicators that measure ForFarmers' sustainability performance on an annual basis. These indicators are in turn linked to two of ForFarmers' key sustainability pillars: reducing CO2 emissions and increasing the use of circular raw materials. Based on the progress measured on these indicators, a discount or surcharge may be applied to the interest rate of the credit facility. 

"Sustainability is an integral part of our strategy. Linking our sustainability ambitions to the new credit facility underscores our commitment to a future-proof food system and, with that, the use of sustainable feed solutions," says Marloes Roetgerink, CFO. 

The new flexible financing structure enables ForFarmers to support the further growth of its activities with sufficient financial scope. The terms of the new credit facility are comparable to those of the existing facility. 

More information about ForFarmers' sustainability and financial performance can be found in the 2024 annual report.

You can find the above press release also via this link.

This press release contains information that qualifies as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

Note to the editor:
ForFarmers, Floor van Maaren, T: +31 (0) 573 28 88 00

Company profile
ForFarmers N.V. (‘ForFarmers’) is a company offering complete feed solutions for (organic) livestock farming. With its mission statement ‘For the Future of Farming’, ForFarmers is committed to future-proof farming and making the agricultural sector even more sustainable. Our goal is clear: to contribute to good returns and a robust long-term earnings model. How? By leading the way with knowledge, advice, support and products on farm. Close to the farmers, solution-oriented and with an open mind to the future. The result: a contribution to affordable and sustainable food, For the Future of Farming.
With sales of around 9 million tonnes of animal feed, ForFarmers is a leading player in Europe. The company has production operations in the Netherlands (head office), Germany, Poland and the UK and exports to various countries within and outside Europe. ForFarmers has around 2,700 employees. ForFarmers N.V. is listed on Euronext Amsterdam.

ForFarmers N.V., PO Box 91, 7240 AB Lochem, T: +31 (0)573 28 88 00
info@forfarmers.eu - www.forfarmersgroup.eu/en

FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements that include ForFarmers' regulatory capital and liquidity positions under certain specified scenarios. In addition, forward-looking statements may include, without limitation, statements containing words such as ''intends'', ''expects'', ''takes into account'', ''aims at'', ''has the plan'', ''estimates'' and words of similar purport. These statements concern or may affect future matters, such as ForFarmers' future financial results, business plans and current strategies. Forward-looking statements are subject to a number of risks and uncertainties that could cause actual results and performance to differ materially from the expected future results or performance implicitly or explicitly contained in forward-looking statements. Factors that may cause, or contribute to, differences in current expectations include, but are not limited to: developments in legislation, technology, taxation, case law and regulations, fluctuations in stock prices, legal proceedings, investigations by regulators, competitive conditions, and general economic conditions. These and other factors, risks and uncertainties that may affect any forward-looking statement or the actual results of ForFarmers are discussed in the latest published annual report. The forward-looking statements contained in this document relate solely to statements as of the date of this document, and ForFarmers assumes no obligation or responsibility to update the forward-looking statements contained in this announcement, whether in connection with new information, future events or otherwise, unless ForFarmers is required by law to do so.