Mowi ASA Explores NOK-Denominated Green Bond Issuance
Event summary
- Mowi ASA, rated BBB+/Stable by Nordic Credit Rating, is exploring the issuance of NOK-denominated green bonds, potentially swapped to EUR, with a minimum tenor of 5 years.
- Proceeds will finance and refinance green projects as defined by Mowi's new Green Financing Framework published in May 2026.
- Danske Bank acted as Sole Green Structuring Advisor, with Danske Bank, DNB Carnegie, Nordea, SEB, ABN AMRO, Crédit Agricole Corporate and Investment Bank, and Rabobank as Global Coordinators and Joint Lead Managers.
The big picture
Mowi ASA's exploration of green bond issuance aligns with broader industry trends towards sustainable financing in the seafood sector. As one of the world's leading seafood companies, Mowi's move reflects its commitment to sustainability and its strategic focus on financing green projects. The issuance, if successful, could set a precedent for other companies in the sector to follow similar paths.
What we're watching
- Market Conditions
- Whether favorable market conditions will materialize to support the issuance of the contemplated green bonds.
- Green Financing Framework
- How the new Green Financing Framework will guide the allocation of proceeds and impact Mowi's sustainability initiatives.
- Execution Risk
- The pace at which Mowi can successfully execute the bond issuance and refinance green projects.