Processing workers at a Lerøy facility in Norway. The company has raised NOK 150bn with a bond issue.

Salmon farmer raises £114.4m through green bonds

Lerøy Seafood Group says issue was oversubscribed


Salmonid farmer and fishing company Lerøy Seafood Group has raised approximately NOK 1.5 billion (£114.4m) by issuing green bonds.

Lerøy, which co-owns Scottish Sea Farms, said today that it had successfully completed new senior unsecured green bond issues of NOK 500m, NOK 500m, and NOK 500m with tenors of five, seven, and 10 years, respectively.

The bonds have coupons of 3m NIBOR + 1.50% per annum for the five-year tranche, fixed rate of 5.10% p.a for the seven-year tranche and a fixed rate of 5.315% p.a for the 10-year tranche. The transaction was significantly oversubscribed.

Previously raised NOK 1.5bn using green bonds in September 2021.

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).