Lerøy raises £60m in green bonds to boost sustainability

Lerøy Seafood Group has raised NOK 750 million (£60 million) through a new senior unsecured green bond with a six-year term, it was announced on the Oslo Stock Exchange today.

The company, co-owners with SalMar of Scottish Sea Farms, will use the proceeds for eligible green projects under its Green Finance Framework, strengthening its sustainability profile and signalling continued investment in environmentally focused initiatives.

The bond will be applied for listing on the Oslo Børs, enhancing liquidity and visibility for investors in the Nordic green bond space. Danske Bank and DNB Carnegie acted as joint bookrunners in connection with the transaction.

Decrease

Last month, Lerøy reported an operating profit of NOK 574 million (£45.1m) in the second quarter of 2026, a decrease of NOK 106 million, or 15.6%, from the same quarter last year.

In the second quarter of 2025, the seafood group delivered an operational operating profit of NOK 680 million.

The decline was due, among other things, to lower harvesting volumes and weaker margins in Market Operations, compared to a historically strong second quarter last year, said the company.

Upbeat

But chief executive Henning Beltestad remained upbeat about the rest of the year.

“We enter the second half of the year with a strong biological status, positive cost development, good cash flow and a market that is gradually tightening. Together with the effects of the cost programme, this provides a good basis for further value creation.”