Signature of the new agreement of the syndicated financing

Monday, 30 September 2013.

Following the Relevant Fact from August 27th regarding the agreement reached with the bank syndicate for the flexibility of debt repayments, the novation agreement has been formalized today.

As Natra reported in its previous Relevant Fact, the seventeen financial institutions that make up the bank syndicate of Natra had informed the company about their unanimous approval of the terms and conditions proposed by Natra for the novation of the 130.8 million euros syndicated loan. This achievement gave Natra greater operational and strategic flexibility for the next three years, while it strengthened the support and confidence of its financial institutions in the evolution of the business and the company’s management team.

The new maturities schedule, which maintains the same final maturity year of 2016, postpones a significant amount of the intermediate repayments scheduled for 2014 and 2015 until 2016. Specifically, debt repayments are fixed at 1.1 million euros in 2013, 2 million euros in 2014, 15.2 million euros in 2015 and 112.5 million euros in 2016.

This new structure will guarantee the company's focus on the new projects recently presented, consisting mainly in its production and commercial deployment in Canada to strengthen its presence in the U.S. market and the commercial expansion in Asia-Pacific.

The joint lead arrangers of the novation of the syndicated financing were Banco de Sabadell, Bankia, NCG Banco, Caixabank and Catalunya Banc. Gómez-Acebo & Pombo Abogados acted as legal advisors to the credit institutions, while ING and the law firm Uria Menendez acted as financial and legal advisors respectively to Natra.

Download original text (PDF)