Mowi is exploring a new green bond issue as the salmon farmer looks to secure long-term financing tied to environmental and sustainability-related projects.
The company said Wednesday it had appointed Danske Bank, DNB Carnegie, Nordea and SEB as global coordinators and joint lead managers, alongside ABN AMRO, Crédit Agricole Corporate and Investment Bank and Rabobank as joint lead managers, to arrange investor meetings ahead of a potential bond sale.
One or more NOK-denominated senior unsecured green bond issues may follow, subject to market conditions. The bonds would carry minimum maturities of five years and would be swapped into euros.
Green bonds are a form of corporate borrowing where proceeds are earmarked for projects considered environmentally beneficial under a defined framework. In Mowi’s case, the company said funds would be used to finance or refinance projects covered by its updated Green Financing Framework, published earlier this month.
Such frameworks typically include investments linked to energy efficiency, lower-emission operations, electrification and environmental improvements. Green bonds have become an increasingly common funding tool among large industrial and food companies seeking access to ESG-focused investors.
Mowi has previously used sustainability-linked financing structures, but the latest move marks a fresh approach to the green bond market at a time when salmon farmers are facing higher capital demands linked to biology, regulation and infrastructure upgrades.
The company did not disclose the size of the potential transaction.
