Mowi, the world’s largest salmon producer, has signed a EUR 2.6 billion five-year sustainability-linked multicurrency revolving credit facility agreement with a syndicate of leading financial institutions, including DNB, Nordea, Rabobank, ABN AMRO, Danske Bank, SEB, and Crédit Agricole.
The facility will be used to refinance existing bank debt and support general corporate purposes. A key feature of the agreement is its alignment with Mowi’s commitment to sustainability. Interest rates on the facility are tied to the company’s performance against specific sustainability key performance indicators (KPIs), reinforcing Mowi’s broader environmental, social, and governance (ESG) strategy.
The financing package includes a principal financial covenant requiring a minimum equity ratio of 35%, and offers an accordion feature allowing for an additional EUR 400 million to be added to the facility during its term, subject to lender approval.
Mowi stated that the agreement supports its ambition of achieving 100% green or sustainable financing, further solidifying its leadership in responsible aquaculture and sustainable business practices.
