CMS advises Mowi on entering into a new EUR 1.8 billion sustainability-linked facility

Frankfurt/Main – Mowi ASA, a world-leading Norwegian food company in the seafood sector, refinanced its existing bank facility with a EUR 1.8 billion five-year secured revolving credit facility. The consortium of banks consisted of DNB Bank ASA, Nordea Bank Abp, filial i Norge, Coöperatieve Rabobank U.A., ABN AMRO Bank N.V., Danske Bank A/S, Skandinaviska Enskilda Banken AB (publ) and Crédit Agricole Corporate & Investment Bank. The facility agreement contains a sustainability-linked margin adjustment which will further promote Mowi’s sustainability strategy, The Blue Revolution Plan. An accordion option has been included for a potential increase of the facility by an additional EUR 300 million. Certain of Mowi’s foreign subsdiaries are guarantors under the new facility agreement.

An international CMS team, led by CMS Kluge, advised Mowi on all legal aspects of the transaction. The German team was led by Dr Markus Pfaff. Also involved were CMS offices from the UK, France, Poland and Belgium. The transaction is the first in cooperation with CMS Kluge in the area of financing. The Norwegian law firm Kluge became part of CMS in June this year and will be fully rebranded by the end of October. The advice on the transaction was particularly characterized by the close coordination and smooth collaboration of the many jurisdictions involved.

CMS Germany

Dr Markus Pfaff, Lead Partner Germany, Frankfurt/Main
Hatice Akyel, Senior Associate, Frankfurt/Main
Felicitas Matthei, Associate, Frankfurt/Main, all Banking & Finance

CMS Kluge (Norway)

Snorre Haukali, Partner
Ida Johanne Bohmann, Senior Associate
Dag Thomas Hansson, Partner

CMS UK

Caryn Miller, Partner
Cameron Milne, Associate
Thomas Pullar, Associate

CMS France

Alexandre Bordenave, Partner
Alexandre Chazot, Associate
Jade Huard
Charlotte Ledoux
Anne-Flore Millet

CMS Poland

Michal Mezykowski, Partner
Martyna Markiewicz, Counsel
Maciej Lorenz
Natalia Skomorowska

CMS Belgium

Benoît Vandervelde, Partner
Anaïs Casteur, Junior Associate

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