Norwegian salmon farmer SalMar has bought back NOK 517 million (€47.0 million) of an existing green bond after raising NOK 2.75 billion (€250.3 million) through a new green bond issue earlier this month.
The repurchased bonds will be cancelled on or around 18 June, reducing the amount outstanding under the bond to NOK 2.983 billion (€271.5 million).
The move forms part of SalMar’s refinancing activities, replacing a portion of its existing debt with funding from the larger new bond issue announced on 9 June.
Green bonds are debt instruments linked to environmental objectives and have become an increasingly common source of financing for large aquaculture companies.
SalMar did not disclose further details of the refinancing in the stock exchange announcement.