Proximar secures refinancing of Japanese bank loans.
Proximar Seafood has confirmed the refinancing of two Japanese bank loans totalling JPY 9.1 billion ($61.9 million), extending their maturities by 12 months to 31 August 2026. The loans had previously been due at the end of August 2025.
The refinancing covers the company’s JPY 8.8 billion ($59.8 million) syndicated bank loan from Mizuho Bank, Shizuoka Bank and the Development Bank of Japan, as well as another smaller bank facility. Interest rates remain unchanged.
In addition, changes have been made to other loans from Japanese banks and financial institutions totalling JPY 1.0 billion ($6.8 million). Amortisations on these loans will now begin after 31 August 2026.
Proximar said the extension of the syndicated loan is conditional on the successful completion of its upcoming rights issue.
“The refinancing of our bank loans as well as changes to amortisation schedules for the smaller loans are important achievements for Proximar as part of the financing plan to secure sufficient working capital. We are very pleased to see the good support from our banks and financial partners in Japan and appreciate their strong commitment,” said Joachim Nielsen, CEO of Proximar.
The company’s land-based salmon farming facility is located at Oyama, near Mount Fuji.
