Kluge has acted as lead legal counsel for Mowi ASA (Mowi) in connection with the refinancing of Mowi’s existing bank facility with a EUR 1,800 million five-year secured revolving credit facility with a consortium of banks consisting of DNB Bank ASA, Nordea Bank Abp, filial i Norge, Coöperatieve Rabobank U.A., ABN AMRO Bank N.V., Danske Bank A/S, Skandinaviska Enskilda Banken AB (publ) and Crédit Agricole Corporate & Investment Bank.
The facility agreement contains a sustainability-linked margin adjustment which will further promote Mowi’s sustainability strategy, The Blue Revolution Plan. An accordion option has been included for a potential increase of the facility by an additional EUR 300 million. Read Mowi’s press release here.
Kluge’s main team in Norway consisted of partner Snorre Haukali, senior associate Ida Johanne Bohmann and partner Dag Thomas Hansson.
Certain of Mowi’s foreign subsdiaries are guarantors under the new facility agreement, and Kluge has been supported by other local CMS offices in France, Belgium, Poland, UK and Germany as well as NDI Abogados in Chile, SÓKN Advokatar in the Faroe Islands, Blakes, Cassels & Graydon in Canada and Pierce Atwood in USA.
Kluge became part of the worldwide law firm CMS in June this year and will be fully rebranded by the end of October. We extend our warmest gratitude to our colleagues who have been working tenaciously to bring this cross-border transaction to a close.
