Mowi issues NOK 4.5 bn in new green bonds

Mowi ASA, rated BBB+/Stable by Nordic Credit Rating, successfully issued NOK 4,500 million in new senior unsecured green bonds today, November 27, 2025. The issuance was split into two tranches, both with a 5-year tenor. One tranche of NOK 3,500 million carries a floating coupon of 3-month Nibor + 1.10% margin p.a., while the other, NOK 1,000 million, has a fixed coupon of 4.95% p.a. All proceeds and coupons will be swapped into floating EUR. The transaction was significantly oversubscribed.

The proceeds are earmarked for green projects outlined in Mowi's Green and Sustainability-Linked Financing Framework from May 2023. Settlement for both tranches is set for December 5, 2025, with an application pending for listing on the Oslo Stock Exchange.

Danske Bank, DNB Carnegie, and Nordea acted as joint global coordinators, supported by ABN AMRO, Crédit Agricole Corporate and Investment Bank, Rabobank, and SEB as joint lead managers. Mowi, headquartered in Bergen, Norway, is the world's largest producer of farm-raised Atlantic salmon, with an estimated 2026 harvest of 605,000 tonnes. The company reported a turnover of EUR 5.6 billion in 2024.