Salmones Multiexport secures USD 250 million loan
Friday, January 17, 2020, 20:00 (GMT + 9)
The funding will be used to pay current loans with banks, and to finance the company's long-term strategic development plan.
Salmones Multiexport S.A., a subsidiary of Multiexport Foods S.A., signed a seven-year loan agreement for USD 250 million with a consortium of three national and international banks.
The new loan granted by Cooperatieve Rabobank U.A., DNB Bank ASA and Banco de Crédito e Inversiones, considers Rabofinance Chile SpA, - Rabobank's vehicle in Chile-, who acts as a credit agent and guarantee agent for the credit operation.
The new loan agreement includes a credit for USD 150 million and a Committed Credit Line for USD 100 million, which is valid for seven years.
The resources from this credit operation will be used to pay current loans with banks, and to finance the company's long-term strategic development plan.
General manager of Multiexport Foods SA, Andrés Lyon highlighted the refinancing operation, which “accounts for the confidence of the financial market with our company, as an important operator of the Chilean salmon industry, where sustainability, respect and care of the environment, and integration with their communities, are a central part of their business model and business vision.”
During the first nine months of the year 2019, the company registered an 18% increase in its revenues, explained by a greater volume of salmon sales, reaching a total of USD 422 million.
Source: La Tercera