Lerøy raises £125.2m through green bond issues
Scottish Sea Farms co-owner Lerøy Seafood Group has raised NOK 1.5 billion (£125.2 million) through three green bond issues.
The senior unsecured bond issues of NOK 500m mature on 17 September 2026, 17 September 2027, and 17 September 2031 respectively.
Lerøy said the transaction was significantly oversubscribed.
The bonds have a coupon (interest rate) of 3 months NIBOR + 1.00% per annum for the five-year tranche, 3 months NIBOR + 1.15% per annum for the six-year tranche, and a fixed rate of 3.35% per annum for the 10-year tranche.
Green bonds have already been used by salmon farmers Mowi, Grieg Seafood and SalMar, which shares 50/50 ownership of Scottish Sea Farms with Lerøy.
Green bonds enable capital-raising and investment for new and existing projects with environmental benefits. Companies are expected to comply with the voluntary Green Bond Principles published in June 2018 by the International Capital Market Association (ICMA).
