ARNARLAX FINALISES SUSTAINABLE LINKED FACILITY AGREEMENT

Arnarlax finalises sustainable linked facility agreement. Arnarlax ehf., a wholly-owned subsidiary of Icelandic Salmon AS, successfully signed a Sustainable Linked Facility agreement aimed at refinancing existing loan facilities. The new facility will support the company’s growth strategy and enhance operational flexibility.
“We have secured a EUR 100 million sustainable linked credit facility, with a three-year tenor, through a good collaborative effort with DNB, Danske Bank, and Arion Bank” say Jónas Heiðar Birgisson, CFO and continues “Having a Sustainable Linked financing with favourable competitive terms support the company’s vision and ambition to be Icelandic Sustainable fish farmer. We are happy to continue our collaboration with DNB and Arion Bank and we look forward working with Danske bank as a strong addition to our team”.
The facility encompasses a term loan facility, a revolving facility, and an overdraft facility, complete with the added flexibility of two one-year extension options. The new financing agreement is fully finalised and is not subjected to any other documentations.
Arnarlax´s ambition is to be Iceland´s leading salmon farmer and is currently Iceland’s biggest aquaculture company having been at the forefront of the aquaculture industry in Iceland for several years. Founded in 2009, in Bíldudalur, a small Icelandic village inside a long fjord called Arnarfjordur, Arnarlax has from the beginning focused on three key factors when it comes to farming salmon:
People, environment and biology
Bíldudalur is the hometown of the company’s founders, so they knew from the very start that the area had excellent conditions for farming salmon in harmony with nature.
Sustainability
Arnarlax´s vision is “sustainability, it´s in our nature” and with this in mind the company continuously works with neighbouring farmers, local governments, and regulators on improving operations and reducing environmental footprint.
Arnarlax was, for instance, the first farming company in Iceland to use lumpfish to reduce lice levels and has been working with government agencies to minimise the risk of organic load affecting the seabed underneath. Sustainability is a guiding principle from their Icelandic heritage that shapes their operations, underpins our values and drives their profitability.
The workforce of tomorrow
Arnarlax has recruited skilled and capable people from all over the world working on the common goal of delivering world-class salmon in harmony with nature. Employees’ ideas and innovative thinking are a crucial driver of Arnarlax’s performance and the company welcomes forward-thinking and honest dialogue. They understand the importance of proficient and skillful people in order to build a strong, focused and unified team.
Image credit: Arnarlax ehf.