Andfjord Salmon borrows more
It also recently carried out a share issue of NOK 400 million
Land-based fish farmer Andfjord Salmon said in a stock exchange release today that it has completed a new three-year bond loan of NOK 750 million (£55.4m).
The company says that the net proceeds from the bond issue will be used for investments and associated working capital related to the company's expansion of its flow-through facility at Kvalnes on the island of Andøya, northwest Norway.
"The bond issue enables Andfjord Salmon to scale up salmon production to an estimated 17,000 tonnes of annual production, starting in September 2025," said chief executive Martin Rasmussen.
Investor interest
He added that he is pleased to see that the company has generated significant investor interest in both the debt and equity markets.
“We are very grateful for the trust from the capital markets, and we are committed to delivering value to all stakeholders now that production resumes after a two-year construction period,” said Rasmussen.
An application will be made for the bond to be listed on the Oslo Stock Exchange and the Frankfurt Open Market.
