Hofseth International plans €300m green bond, refinances debt

Hofseth International AS has unveiled a comprehensive refinancing strategy, highlighted by the planned issuance of a €300 million 1st lien senior secured green bond with a 5-year tenor. DNB Carnegie and SB1 Markets will serve as joint lead managers. Proceeds from this new bond will be allocated to eligible green projects under the company's green financing framework. Concurrently, a new NOK 1 billion revolving credit facility from Sparebanken Norge has been approved, ranking pari passu with the new green bonds.

The company will also seek a written resolution for its existing NOK 1 billion senior unsecured bond issue. This resolution proposes a special redemption option at 109.90% of the nominal amount, supported by over 2/3 of existing bondholders. This refinancing is projected to reduce the group’s average interest cost, extend debt maturity, improve interest rate cover, and provide over NOK 1 billion in financial flexibility.

Operationally, Hofseth International reported strong performance for July-August 2025, with revenue of NOK 875m and EBITDA of NOK 165m, marking a 40% increase in EBITDA year-over-year. The last twelve months ending August 2025 show revenue of NOK 6,088 million and EBITDA of NOK 600 million, up from NOK 556 million as of Q2’25.