Net proceeds from the bond issue will be used towards the group’s capital expenditures, general corporate purposes and redemption of remaining Class B Shares issued by the Issuer, including accrued dividends and interest.
The bond issue will provide Hofseth with the financial flexibility to execute on its highly accretive growth projects and will complement Hofseth’s existing financing from its supportive bank syndicate.
Hofseth is now fully funded to significantly expand its farming volumes with innovative submersible and closed system technologies which will position the company as an emergent leading sustainable salmon producer.
Carnegie AS and SpareBank 1 Markets AS acted as Joint Lead Managers in connection with the placement of the new bond issue. An application will be made for the bonds to be listed on Nordic ABM and the Open Market of the Frankfurt Stock Exchange.
For further information please contact:
Silje Bjerkestrand, CFO, Hofseth International AS
Email: sibj@hofseth.no
Mobile: +47 970 82 151
About Hofseth:
Hofseth is a leading Norwegian seafood company with a fully-integrated value chain. As the only salmonid farmer located in the attractive Storfjorden, Hofseth has a 20-year history of profitable and responsible growth. Today, the company farms ~16,000 tonnes and processes ~50,000 tonnes of salmonids, most of which is sold through the Group's distribution companies and partners across the globe.