Mowi signs €2.6 billion sustainability-linked credit facility.
Mowi has entered into a €2.6 billion five-year sustainability-linked multicurrency revolving credit facility agreement with a consortium of banks including DNB, Nordea, Rabobank, ABN AMRO, Danske Bank, SEB and Crédit Agricole.
The new facility will be used to refinance existing bank debt and for general corporate purposes. It includes an accordion feature that allows for an increase of up to €400 million, subject to lender agreement.
The principal financial covenant under the facility is a minimum equity ratio of 35%. Interest margins are linked to Mowi’s performance against selected sustainability key performance indicators (KPIs), aligning with the company’s stated objective of achieving 100% green or sustainable financing.
The agreement is subject to customary closing conditions and falls under the disclosure requirements of section 5-12 of the Norwegian Securities Trading Act.