Mowi ASA Achieves Remarkable Green Bond Placement
In a significant move towards sustainability, Mowi ASA recently announced the successful placement of new senior unsecured green bonds, totaling NOK 4,500 million (approximately EUR 382 million). This issuance was divided into two distinct tranches, marking a pivotal moment for the company.
Details of the Green Bond Issuance
The first tranche consists of NOK 3,500 million (EUR 297 million) with a tenor of five years and carries a coupon rate set at 3-month Nibor plus a 1.10% margin per annum. The second tranche, amounting to NOK 1,000 million (EUR 85 million), also has a five-year tenor, but features a fixed coupon rate of 4.95% per annum, which equates to a margin of 1.066% above the 3-month Nibor. This enhances Mowi’s financial flexibility.
Oversubscription Indicates Strong Demand
The bond issue experienced a strong oversubscription, indicating robust market confidence in Mowi’s financial health and its commitment to sustainability. The proceeds from these green bonds are earmarked for financing environmentally friendly projects aligned with Mowi's Green and Sustainability-Linked Financing Framework, notably from May 2023.
Settlement and Listing Plans
The settlement date for both tranches of the bonds has been scheduled for December 5, 2025. Mowi plans to apply for these bonds to be listed on the Oslo Stock Exchange, further enhancing their visibility and trading potential in the financial market.
Collaboration with Financial Institutions
Mowi collaborated with a number of prominent financial institutions to execute this bond transaction successfully. Danske Bank, DNB Carnegie, and Nordea acted as Joint Global Coordinators, while ABN AMRO, Crédit Agricole Corporate and Investment Bank, Rabobank, and SEB served as Joint Lead Managers. This collaboration underscores the company’s strategic approach to leveraging expertise in the financial markets.
Company Overview: Mowi ASA
Mowi ASA stands as a leading player in the global seafood industry, recognized as the largest producer of farm-raised Atlantic salmon worldwide. It is poised to yield approximately 605,000 tonnes of salmon by 2026 from multiple farming locations, including Norway, Scotland, Ireland, Faroes, Iceland, Canada, and Chile.
Commitment to Sustainability
The company is dedicated to delivering high-quality seafood to consumers around the world, primarily under its unique MOWI brand. It has earned recognition as the most sustainable listed animal protein producer globally, according to assessments by Coller FAIRR. Mowi's commitment to sustainability is core to its operations and mission.
Global Presence and Economic Impact
With its headquarters nestled in Bergen, Norway, Mowi employs approximately 12,300 individuals across 26 countries, highlighting its extensive global reach. In terms of financial performance, the company reported a turnover of EUR 5.6 billion in 2024, reflecting its robust operational capabilities and market standing.
For further inquiries, Mowi can be contacted through:
Kristian Ellingsen, CFO, +47 905 14 275
Kim Galtung Døsvig, IR Officer & Head of Treasury, +47 908 76 339
Frequently Asked Questions
What are green bonds?
Green bonds are fixed-income instruments specifically issued to fund projects that have positive environmental or climate benefits.
Why did Mowi choose to issue green bonds?
Mowi aimed to secure funding for sustainable projects while demonstrating its commitment to environmental responsibility.
How much did Mowi raise through the bond issuance?
Mowi raised a total of NOK 4,500 million (around EUR 382 million) through the green bond issuance.
Who managed the bond issuance for Mowi?
The bond issuance was managed by major financial institutions, including Danske Bank and Nordea, among others.
What is Mowi's core business model?
Mowi is primarily involved in aquaculture and is recognized as the largest producer of farm-raised Atlantic salmon globally.
