• Kalera, a Norwegian hydroponic vertical farming operator, has secured a 10-year USD 30 million senior secured note facility from Farm Credit of Central Florida. The facility was secured by Kalera Inc, the US-based subsidiary of the parent company Kalera AS.

• USD 20 million of the credit facility will be provided as a term loan to support the company’s capital expenditures with the remaining provided as a revolving loan for use as working capital across all of its branches in the US.

• The credit facility matures in 120 months with standard terms and conditions of a  secured financial transaction.

<ul><li> Analyst QuickTake: This is the second credit facility Kalera has secured for the year after the USD 20 million bridge financing facility secured last month . The funds secured come amidst Kalera’s plans to open new facilities in Honolulu, Seattle, St.Paul, and Minnesota, having opened a new facility in Denver last month. Moreover, the company is looking to go public via the SPAC route and is taking necessary efforts to expand its business ahead of its NYSE listing. </ul>