Bakkafrost announced an agreement to refinance its existing bank facilities and its outstanding NOK 500 million bond, which has a maturity during first quarter of 2018, with a senior secured five year EUR 200m credit facility ("Facility"), with its existing lender Nordea. The Facility includes an accordion increase option, which provides flexibility for the parties to agree an increased size of the facility by further up to EUR 200 million during the term of Facility. The principal financial covenants of the Facility are; (1) an equity ratio of no less than 35% and (2) an interest coverage ratio (EBITDA to net interest payable) of no less than 3x. Bakkafrost is pleased by the reduced total interest commitments in connection with the refinancing and increased financial flexibility generated by the Facility. The Facility is subject to signing a facility agreement, which is expected to take place during first quarter of 2018.