Mowi raises £335m with green bond issue

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The world’s biggest salmon farmer, Mowi, has successfully issued a total of NOK 4.5 billion (€382 million/£335m) of new senior unsecured green bonds split between two tranches.

NOK 3.5bn (€297m) has been issued with a tenor of 5 years and a coupon of 3-month Nibor (Norwegian interbank offered rate) + 1.10% margin per annum, and NOK 1bn (€85m) has been issued with a tenor of 5 years and a fixed coupon of 4.95% p.a. (equivalent to 3-months Nibor + 1.066% margin p.a.).

The transaction was well oversubscribed, Mowi said in a market announcement.

The proceeds from the green bond issues will be used for green projects as defined by Mowi's Green and Sustainability-Linked Financing Framework dated May 2023.

finance sustainability mowi green bonds news salmon farming