SalMar has completed a NOK 2.75 billion (€250 million) green bond issue, according to a stock exchange announcement published on Tuesday.
The financing consists of two senior unsecured bond tranches with a three-year maturity.
One tranche totals NOK 1.75 billion (€159 million) and carries a floating interest rate of three-month NIBOR plus 0.88 percentage points. The second tranche, worth NOK 1 billion (€91 million), carries a fixed annual coupon of 5.541%.
Settlement is scheduled for 18 June. SalMar said it will apply for the bonds to be listed on Oslo Børs.
Arctic Securities, Danske Bank, DNB Carnegie, Nordea and SEB acted as joint lead managers for the transaction.
The bonds were issued under a green financing framework, allowing proceeds to be allocated to projects that meet specified environmental criteria.
SalMar is one of the world’s largest Atlantic salmon farmers. The company harvested 60,300 tonnes gutted weight in the first quarter and reported operational EBIT of NOK 798 million (€72.6 million).
Nordic Credit Rating rates SalMar BBB with a stable outlook.