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Travers Smith advises Benchmark on its NOK Bond refinancing


Travers Smith LLP has advised long-standing client Benchmark Holdings plc, the aquaculture health, nutrition and genetics business, on the proposed refinancing of its existing $90 million credit facility through the issuance of a NOK 850 million listed bond underwritten by DNB Bank ASA and accompanying $15 million revolving credit facility to be provided by DNB Bank ASA.

The refinancing will provide Benchmark with additional covenant flexibility and headroom to support the roll-out of products, including its next generation sea lice treatment and disease resistant shrimp.

The Travers Smith team was led by Finance Partner Donald Lowe, with support from Finance Associate Will Sheridan and Corporate Finance Partner Anthony Foster.

Local Norwegian law advice was also provided to Benchmark by Wikborg Rein, led by Partner Alex Owesen with support from Associate Andreas Kjensli Lund.

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