The net proceeds from the issuance of the New Bonds will be applied for eligible green projects in accordance with the Company's Green Financing Framework.
This strategic refinancing contributes towards a reduction in the Group’s average interest cost, extends the average maturity of its long-term interest-bearing debt, improves it’s interest rate cover and provides approximately NOK 1 billion in cash and undrawn facilities.
Following completion, the Group’s primary interest-bearing debt will consist of the New Bonds, the new Sparebank Norge RCF, the Hofseth LLC ABL, and certain real estate loans in Hofseth Property AS.
This transaction represents a significant step forward to position Hofseth International for long-term sustainable growth, aligning with the Company’s strategy to optimize it’s capital structure while supporting green investments.
DNB Carnegie and SB1 Markets acted as Joint Lead Managers in connection with the placement of the new bond issue.
For further information please contact:
Svein Myhre, CFO, Hofseth International AS
Email: svmy@hofseth.no
Mobile: +47 470 16 793
About Hofseth International
Hofseth International is a leading Norwegian seafood company with a 20-year track record of profitable and responsible growth. The Company operates across the full value chain from smolt production and farming to processing and global sales, serving major markets in the US, Europe, and Asia.