Mowi raises millions in green bonds issue

Salmon giant Mowi has successfully raised around £255m (€298m/NOK 3.5bn) in green bonds.

Mowi said green bond finance will be used for sustainable and environmentally friendly projects as defined by Mowi’s Green and Sustainability-Linked Financing Framework.

It added: “The entire issue amount and coupons will be swapped into floating EUR. The transaction was well oversubscribed.”

Danske Bank (Green Bond Advisor), DNB Markets, Nordea and SEB (as Joint Global Coordinators) acted together with ABN AMRO, Crédit Agricole Corporate and Investment Bank and Rabobank as Joint Lead Managers on the transaction.

Mowi is ranked as the most sustainable listed animal protein producer in the world by the Coller FAIRR protein producer index.

Its annual production this year is likely to be some 500,000 tonnes from seven countries.

Mowi said it has an ambitious sustainability strategy which is centred around its guiding principles Planet and People and underpins commitments across our social and environmental performance through the value chain.

It says: “Plastic pollution has become a global problem. Huge amounts of plastic waste are released into the oceans every year, resulting in the occurrence of micro- and nanoplastics particles in the oceans.

“Appropriate waste management systems are part of the solution, but, ultimately, it will be reducing our production and consumption of plastic products that can ensure the health of the ocean.

“Our commitments are set to make our business future-proof and are aligned with the UN.”