SalMar has many uses for funds, such as the Smart Fish Farm concept, pictured. Image: SalMar.

SalMar's oversubscribed bond issue raises £299m

Scottish Sea Farms co-owner SalMar has successfully completed a new senior unsecured green bond issue of NOK 3.5 billion (£299 million) with maturity 22 January 2027.

Published Last updated

Norwegian salmon farmer SalMar said the transaction was significantly oversubscribed. The bonds interest at the three-month average for the NIBOR (Norwegian Interbank Offered Rate) + 1.35% per annum and settlement date is set to 22 April 2021.

Danske Bank, DNB Markets and Nordea acted as joint lead managers and green bond advisors in connection with the bond issue.

An application will be made for the bonds to be listed on Oslo Stock Exchange.

Cash raised with green bonds is used for new and existing projects with environmental benefits in line with the voluntary Green Bond Principles published in June 2018 by the International Capital Market Association (ICMA).