Arctic Fish recently secured a refinancing agreement worth ISK 25,000 million through a syndicated loan provided by DNB, Danske Bank, Nordea, and Rabobank. Arctic Fish will utilize the loan, which has a three-year term and the potential for extension, to repay existing debts and bolster the company's continuous expansion plans.
This continues to advance the company's strategy in the field of sustainability and enables further implementation by international standards. Neil Shiran, the CFO of Artic Fish, explained that this refinancing has a positive effect on future interest rates.
"We are very pleased with the financing, which will support the company's future focus. Finalization of the loan agreements now begins and the refinancing is subject to the usual caveats on the finalization of such loan documents," said Neil Shiran Þórisson, CFO of Arctic Fish.
Arctic Fish has successfully sealed its refinancing, aligning it with its sustainability goals. Steps forward for a company that owns and operates its land-based fingerling farm. One of the most advanced farms in the world in terms of water reuse and use of clean energy sources.
Arctic Fish, a rapidly growing salmon farming company in Westfjords, is set for a successful year. Thus, their advanced land-based hatchery, and commitment to water reuse and clean energy, make them a leader in the industry. Furthermore, they currently employ over 100 people, with plans to increase the workforce by year-end.
Arctic Fish's land-based facility can produce approximately 4 million fish, while their sales forecast for this year anticipates reaching 15,000 tons of salmon. Furthermore, the company's projection is to achieve a growth of 22,000 tons over the next three years.
The company's major shareholder is MOWI, the world's largest salmon farming company, and also has the support of Síldarvinnsnan hf.
