Proximar Seafood bondholders approve refinancing plan with extended maturity

Proximar Seafood AS announced that its bondholders resolved a written resolution to amend the terms of its NOK 300 million 7.00% subordinated unsecured convertible bonds 2022/2025. This approval follows a notice of written resolution issued on September 2, 2025.

The approved proposal extends the bond's maturity date by 15 months to January 27, 2027, and reduces the interest rate by 2.00 percentage points per annum, effective from the October 2025 interest payment date, resulting in a new rate of 5.00%. Additionally, a temporary reduction of the conversion price to NOK 1.00 per share is applicable for conversion rights exercised between September 2 and September 18, 2025. Accrued interest on converted bonds will be settled in new shares.

This refinancing plan, which includes a fully underwritten share issue, aims to strengthen Proximar Seafood's liquidity, reduce debt, and extend debt maturities, supporting the company's Atlantic salmon farming facility ramp-up in Japan. Bondholders were reminded that September 18, 2025, is the last day to exercise conversion rights at the temporary adjusted conversion price.