SalMar ASA Green Bonds Overview
SalMar ASA, a prominent player in the aquaculture sector, has made an impressive move in the bond market by issuing a total of NOK 1,500 million in new green bonds. Rated BBB+/Negative by Nordic Credit Rating, SalMar aims to reinforce its financial strategies while supporting sustainable initiatives through these green bonds.
Details of the Bond Issuance
The bond issuance comprises NOK 1,000 million in an 8-year fixed tranche along with NOK 500 million in a 7-year floating rate tranche. The fixed coupon is set at an attractive rate of 5.15%, while the floating rate is set at 3-month NIBOR plus 143 basis points. In comparison, the 7-year floating rate tranche offers a rate of 3-month NIBOR plus 135 basis points.
Bond Listing Plans
SalMar intends to list these senior unsecured green bonds on the Oslo Stock Exchange, further enhancing their visibility and accessibility to investors in the market. The expected settlement date for the bonds is positioned for late 2025, specifically on August 22, indicating a proactive approach towards capital management and market strategy.
Future Considerations
Alongside the present bond issuances, SalMar is also considering the potential issuance of an additional NOK 500 million in bonds for the 7-year tranche. The ability to adapt this transaction will depend on prevailing market conditions and investor interest, showcasing SalMar's flexibility within the financial markets.
Roles of Financial Institutions
Nordea has served as the Sole Lead Manager for this bond transaction, bringing its expertise to ensure a successful issuance. Additionally, Danske Bank, DNB, and SEB have joined as Joint Lead Managers, collaborating to facilitate the bond issuance process smoothly and effectively.
Investor Relations Contact
For those interested in further details or inquiries about the bond offerings, SalMar's Head of Investor Relations, Håkon Husby, is available for communication. He can be reached at +47 936 30 449 or via email at hakon.husby@salmar.no. Håkon is prepared to provide the necessary insights and support for investors looking to delve deeper into the details surrounding SalMar's financial strategies and commitments to sustainability.
Frequently Asked Questions
1. What is the purpose of SalMar's green bonds?
SalMar's green bonds are aimed at financing sustainable initiatives, enhancing their commitment to environmental responsibility.
2. Who are the lead managers for the bond issuance?
Nordea acts as the Sole Lead Manager, with Danske Bank, DNB, and SEB serving as Joint Lead Managers.
3. What are the key features of the bond offerings?
The bonds consist of an 8-year fixed tranche with a coupon of 5.15% and a 7-year floating rate tranche linked to NIBOR.
4. When does the bond settlement date occur?
The bonds are set to settle on August 22, 2025.
5. How can investors contact SalMar for more information?
Investors can reach out to Håkon Husby at +47 936 30 449 or email him at hakon.husby@salmar.no for further inquiries.
