Icelandic salmon farmer Arctic Fish's recent loan agreement will partly back the company's new harvesting facility and extend its smolt production in an effort to increase the group's utilization of its maximum allowed biomass (MAB) of production.

Earlier this week, the Mowi-backed company entered into an agreement for a €170 million ($187.2 million) three-year senior secured loan and revolving credit facility with Danske Bank, DNB, Nordea and Rabobank.

"In essence this is a sustainability linked loan, but we are still working on finalizing the details," Arctic Fish CFO Neil Shiran Thorisson told IntraFish.