12 Dec 2019
EUR 17.5 million
Infrastructure, transportation and telecom
NIB and the Danish seed producer DLF Seeds A/S have signed a DKK 125 million (EUR 17 million) loan to finance the borrower’s sugar beet seed company MariboHilleshög in 2018/2019–2019/2020.
NIB’s five-year-maturity loan is assisting DLF Seeds in reaching its R&D goals, focusing on improving the technologies that increase the quality and efficiency of sugar beet seeds. The aim is especially to cultivate the breeding of the crop, with a special emphasis on boosting resistance to harmful diseases and insects.
The sugar beet has been important to agriculture in NIB's member countries for centuries. The rather cold climate limits the number of species available for food production. It is beneficial for the region to have plant-breeding knowhow and an R&D unit located in the Bank’s member states.
DLF Seeds is a global clover and grass seed company, operating in 22 countries and employing approximately 2000 people. As a market leader with a 50% market share in Europe and 30% worldwide, DLF provides products to more than 100 countries. The company is owned by a cooperative of Danish grass-seed farmers. DLF has its headquarters in Roskilde, Denmark.
NIB is an international financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.
For further information, please contact
Vagn Lundhøj, Senior Manager, Origination, at +358 10 618 0370, email@example.com
Niina Rantti, Communications Officer, at +358 10 618 0265, firstname.lastname@example.org