Benchmark Holdings PLC Refinances the Company's existing debt (7313Z)
September 16 2022 - 2:00AM
UK Regulatory
TIDMBMK
RNS Number : 7313Z
Benchmark Holdings PLC
16 September 2022
16 September 2022
Information within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulations
(EU) No. 596/2014
Benchmark Holdings plc
("Benchmark", the "Company" or the "Group")
Successful refinancing through a new senior unsecured green bond
issue
Refinances the Company's existing debt
Benchmark (LSE: BMK), the aquaculture biotechnology company, is
pleased to confirm that further to its announcement of 6 September
2022, the Company has today successfully completed a new senior
unsecured green bond issue of NOK 750 million (GBP64 million
equivalent), with an expected maturity date on 27 September, 2025.
The bond has a coupon of three months NIBOR* + 6.5% p.a. with
quarterly interest payments.
The settlement date for the bond issue is expected to be 27
September 2022. An application will be made for the bonds to be
listed on Nordic ABM, Open Market of the Frankfurt Stock Exchange,
International Stock Exchange in Guernsey or the Cayman Islands
Stock Exchange before the first interest payment date, and on the
Oslo Stock Exchange or another regulated exchange within six
months.
The net proceeds from the bond issue will be used to refinance
Benchmark's outstanding senior secured bonds with the ticker
"BHMH01" (ISIN NO0010858210), which mature in June 2023, and to
finance green projects as described in the Green Bond Framework.
The Green Bond Framework and the second party opinion provided by
Cicero can be found on the Company's website.
Concurrently with the new bond issue, Benchmark will repurchase
NOK 583 million of the outstanding bond issue "BHMH01" at a price
of 102.25% of par, and the remainder will be called at a price of
101.69% of par through a separate call notice.
DNB Markets acted as Sole Bookrunner for the bond issue.
*NIBOR - the Norwegian Interbank Offered Rate, which stood at
2.76% as at 15 September 2022
Trond Williksen, CEO, commented:
"We are pleased to have completed this new green bond issue,
which enables us to refinance our main existing debt and allows the
Group to focus on commercial execution of its growth strategy,
while also demonstrating our sustainability commitment."
For further information, please contact:
Benchmark Holdings plc benchmark@mphc.com
Trond Williksen, CEO
Septima Maguire, CFO
Ivonne Cantu, Investor Relations
Numis (Broker and NOMAD) Tel: 020 7260 1000
James Black, Freddie Barnfield, Duncan Monteith
MHP Communications Tel: 020 3128 8990
Katie Hunt, Reg Hoare benchmark@mhpc.com
About Benchmark
Benchmark is a market leading aquaculture biotechnology company.
Benchmark's mission is to drive sustainability in aquaculture by
delivering products and solutions in genetics, advanced nutrition
and health which improve yield, growth and animal health and
welfare.
Through a global footprint in 26 countries and a broad portfolio
of products and solutions, Benchmark addresses many of the major
aquaculture species - salmon, shrimp, sea bass and sea bream, and
tilapia - in all the major aquaculture regions around the world.
Find out more at www.benchmarkplc.com
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END
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