Dairy Board secures five-year €420m deal with banks at home and abroad

The Irish Dairy Board has secured a five-year, €420m syndicated bank facility with AIB, Bank of America Merrill Lynch, Barclays, HSBC, Rabobank, and Ulster Bank.

This deal replaces the IDB’s existing €350m three-year facility with the same banks.

The IDB and its industry partners will use the war-chest to fund their domestic and international growth ambitions aligned to the removal of milk quotas in 2015. The new facilities are already over-subscribed.