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Irish Dairy Board Obtains €420million Loan

The Irish Dairy Board (IDB) has secured a €420 million loan as it plans a global expansion. IDB, which owns Kerrygold butter and Dubliner Cheese secured the five-year syndicated loan from Allied Irish Bank, Bank of America Merill Lynch, Barclays, HSBC, Rabobank and Ulster Bank.

The group’s finance director Donal Buggy said, "The successful refinancing demonstrates the strong support that exists amongst our participating banks for both the IDB and the Irish dairy industry generally."

The Irish Dairy Board, which sells, markets and exports dairy products for farmers and processors, aims to increase the value of Irish dairy and profits for its farmers by expanding its appeal and improving its global reputation. €165million of the loan is to be spent on its growth strategy.

© 2014 - Checkout Magazine by Paul Campbell

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