Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


The bonds fall under the company‘s sustainable financing framework, both green and blue

Brim issues green and blue bonds – the first of their kind in Iceland

Click on the flag for more information about Iceland ICELAND
Wednesday, October 27, 2021, 05:50 (GMT + 9)

Brim, in collaboration with Íslandsbanki, has completed the issuance of bonds that fall within the company’s sustainable financing framework and are identified with the colours green and blue. By issuing the bonds, Brim finances projects that promote sustainability and have a positive impact on the environment, with blue bonds regarding projects related to the sea and water. The bonds are the first of their kind to be issued by Brim and also the first in Iceland to fall under the blue and green financing framework.

The bonds sold are in the series BRIM 221026 GB, are non-indexed and have a final maturity date of 22 October 2026. The bonds carry 4.67% interest, which is paid quarterly, but the principal of the bonds is paid in one payment on the final maturity date. The total size of the bond series is a total of ISK 5,000 million nominal value, but now bonds with a nominal value of ISK 2,500 million have been issued. The bond was sold at par value, or at a yield of 4.75%. Concurrently, the company has entered into a currency and interest rate swap agreement to meet the cash flow of the bonds, and taking into account that agreement, the company’s interest costs will amount to 1.8% fixed interest in euros for the lifetime of the bond.

With a sustainable financing framework, bond buyers can rely on their investments to go to projects that promote sustainability and have a positive impact on the environment. Thus, investments are made in projects that e.g. reduce greenhouse gas emissions, reduce pollution and promote more environmentally friendly modes of transport. In the fisheries sector, there is the electrification of ports, energy switching, sewerage and other issues that contribute to the health of the sea and the environment. Among the projects covered by Brim’s funding framework are the company’s waste sorting stations, where everything generated in the operations at sea and on land is sorted; the development of an environmental database with the aim of having an overview of emissions and where they occur in the operations; and renewal of equipment that increases the utilisation of raw materials and reduces environmental impact.

In recent years, Brim has invested in sustainability projects and systematically reduced the environmental impact of its operations. For years, sustainability and environmental issues have played an important role in the company’s operations, and the company has annually reported on the non-financial aspects of its operations in accordance with the Global Reporting Initiative GRI100-400 and Nasdaq’s UFS guidelines. Brim was awarded the SA Environmental Award in October 2019.

“Climate issues are one of the main challenges of our time, and we all need to respond,” says Guðmundur Kristjánsson, CEO of Brim. “The key to success is a large increase in investment in innovation and development of projects in the field of environment and climate change. That is why it is important to mobilise the financial market for co-operation with us and to establish a professional procedure that ensures that sustainability is a guiding principle in the assessment of our investments.”

Íslandsbanki oversaw the issuance of the bonds. The second opinion provider of Brim’s sustainable financing framework is the international consulting firm Sustainalytics, which is owned by Morningstar in the UK. CIRCULAR Solutions, now KPMG’s sustainability consultancy, provided consultation on setting up the financing framework.

editorial@seafood.media
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Peru
Dec 4, 21:00 (GMT + 9):
We spend like rich, we live like poor
Norway
Dec 3, 19:00 (GMT + 9):
Norwegian seafood exports reach a historic milestone in November
Falkland Islands
Dec 3, 18:00 (GMT + 9):
Good news from the Loligo and hake fisheries
Norway
Dec 3, 07:00 (GMT + 9):
Norway and Greenland have agreed on a quota agreement for 2022
Norway
Dec 3, 07:00 (GMT + 9):
New side effect of PD vaccines
Worldwide
Dec 3, 07:00 (GMT + 9):
Understanding how to build resilient fisheries
Faroe Islands
Dec 3, 07:00 (GMT + 9):
Russia and the Faroe Islands agreed on the mutual transfer of quotas for catching aquatic biological resources for 2022
United States
Dec 3, 02:00 (GMT + 9):
IPQ list │ Opilio crab │ Bering Sea │ 2021/2022
Japan
Dec 3, 01:00 (GMT + 9):
Seafood entry | Tokyo Central Fish Market (Toyosu, Adachi, Ota) | week 48 (partial)
Spain
Dec 3, 00:00 (GMT + 9):
Other Media | iPac.acuicultura: Galicia demands in Brussels an ecological labeling that includes aquaculture, shellfish and fishing products
European Union
Dec 3, 00:00 (GMT + 9):
Other Media | Industrias Pesqueras: Fishing removes the caps on the capture of rays in the Bay of Biscay, in Portuguese waters and for trawling
Germany
Dec 3, 00:00 (GMT + 9):
Other Media | Fish Farmer:Fish International postponed over Covid fears
United States
Dec 3, 00:00 (GMT + 9):
Other Media | The Fish Site: NOAA opens its Small Business Innovation Research Funding for 2022
Russian Federation
Dec 3, 00:00 (GMT + 9):
Other Media | fishfarmingexpert: Russian Aquaculture profit up 117% as volumes rise
United Kingdom
Dec 3, 00:00 (GMT + 9):
Other Media | WorldFishing: Unlocking the potential of fish by-products



Lenguaje
FEATURED EVENTS
  
TOP STORIES
'The pirates have arrived'
Argentina When the jiggers arrive at the fishing zone on January 7, hundreds of boats will already be catching squid: "There are already more than a hundred foreign fishing boats that have settled on the e...
Catch of Iwasi sardine, mackerel and saury reached almost 306 thousand tons
Russia Fed. By the end of November 2021, the total catch of iwashi sardines, mackerel and saury by Russian users amounted to almost 306 thousand tons. The preliminary results of the fishery were discussed at th...
Produce monitors tuna vessels in front of the sea of ​​Máncora
Peru The Ministry of Production (Produce) pointed out that the four vessels that fish for tuna within 50 miles of the Peruvian sea, off the town of Máncora, in Piura, have a permit for the extractio...
The business community can now implement the free trade agreement with the United Kingdom
United Kingdom From today, the business community can implement the free trade agreement between Norway and the United Kingdom. This contributes to trade, value chains and competitiveness continuing after Brexit. ...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2021 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER