Oslo-listed Grieg Seafood successfully completed an unsecured green bond loan package worth NOK 1 billion (€93 million/$104 million), the company announced to shareholders.
The company will invest heavily in projects that keep fish longer on land, sustainability certifications, reducing carbon emission and supporting alternative feed ingredients.
"Reducing our environmental footprint and improving fish welfare is not only an ethical responsibility, it is also key to achieve our operational and financial targets," Grieg Seafood CEO Andreas Kvame said.
The transaction, facilitated by DNB Markets and Nordea, was significantly oversubscribed.
Grieg is planning to list the bonds on the Oslo Stock Exchange. The bond will mature in June 2025.
The company is creating its own fully integrated sales operation, and would end its joint venture with Bremnes Seashore.
The new sales arm, which will begin operating in 2021, will take the place of the company's Ocean Quality operation, which it established in 2010 with Bremnes.