31 Mar 2021
EUR 63 million
Infrastructure, transportation and telecom
NIB and the Danish A.P. Moller Holding A/S have in December 2020 agreed on a 10-year-maturity loan facility for the company’s transitional investment activities.
The full amount of the DKK 2 billion (EUR 269 million) loan facility has now been disbursed to partly finance the acquisition of Faerch Group A/S (Faerch), a sustainable food packaging and recycling company from Denmark.
“Our financing supports A.P. Moller Holding’s contribution to the critical societal development of circular economy, namely in the area of waste management and recycling,” says Henrik Normann, NIB President & CEO.
The medium-term investment plans for Faerch include expanding its operations with several recycling plants, which will allow the company to vertically integrate and gain access to high quality recycled Polyethylene Terephthalate (PET) for their production facilities. Currently, recycled material composes from 70% to nearly 100% of Faerch’s products, and the company plans to increase its recycling levels further.
Recycled PET is based on waste recovered from post-consumer sources such as food trays. PET is the only type of plastics that can be recycled almost endlessly while maintaining the original attributes to preserve food or beverages and extend the lifespan of food products.
The total acquisition cost was approximately EUR 1.9 billion.
A.P. Moller Holding is controlled by the A.P. Moller Foundation. It consists of a broad portfolio of industry-leading enterprises within transportation, logistics, infrastructure, energy, and financial services.
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.
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