Investor News

Following this announcement, Marel hf. will send a conditional offer to repurchase bonds issued by the company and listed on the Nasdaq OMX Nordic Exchange Iceland under the name MARL 06 1 (ISIN No: IS0000012177) (the “Bonds”) at par on the date of repurchase.

The Bonds were issued in Iceland in February 2006 with maturity on 8 February 2012. The repurchase of the Bonds is conditional upon Marel obtaining satisfactory financing prior to settlement of the Offer.

The offer to repurchase the Bonds is part of Marel’s strategy to establish a stable and cost efficient new financing structure, which will facilitate further integration of the company’s operations. Marel is currently in formal discussions on financing with a limited number of international banks.

It is Marel’s aim to also fully repay MARL 09 1 bonds – issued in 2009 and repayable at Marel’s discretion until maturity in November 2011, in accordance with their terms – subject to the availability of satisfactory financing.

The two bond classes, MARL 06 1 and MARL 09 1, represent the only ISK exposure remaining in the company’s financing structure. At the end of Q3 2010, the total value of MARL 06 1 bonds amounted to EUR 21.6 million, while MARL 09 1 totaled EUR 17.7 million. With the repurchase and repayment of its outstanding bonds, the company seeks to further reduce currency risk with regard to ISK on its balance sheet.

Download the offer document, further describing the terms and conditions of the offer.

Marel’s advisors in the repurchase process are H.F. Securities.


For further information, please contact:

Einar Palmi Sigmundsson, H.F. Securities,
einarpalmi@hfverdbref.is, tel: (+354) 585 1700

Andri Gudmundsson, H.F. Securities,
andri@hfverdbref.is, tel: (+354) 585 1700

Jon Ingi Herbertsson, Investor relations, Marel,
jon.herbertsson@marel.com, tel: (+354) 563-8451