Invertec Signs Restructuring Deal for USD 153M

The Fish Site
by The Fish Site
4 January 2010, at 12:00am

CHILE - The Chilean salmon producer company Invertec Pesquera del Mar de Chilo signed restructuring deal for USD 153 million with a group of 12 banks. This amount might be increased by USD 13 million due to some lines for capitalization.

“By this restructuring contract, Invertec has restructured liabilities which approximately represent 85% of the company’s current liabilities to date” the company’s general manager Andrés Parodi explained through a press release submitted by the Chilean Securities and Insurance Supervisor (SVS).

According to Fishfarmingxpert, this agreement was signed with the following entities: Banco de Crédito e Inversiones (“BCI”); Rabobank Curaçao N.V. (“Rabobank”); Banco Security (“Security”); Banco Bilbao Vizcaya Argentaria (“BBVA”); Banco Santander-Chile (“Banco Santander”); Banco de Chile; Banco Itaú Chile (“Banco Itaú”); Banco BICE; The Royal Bank of Scotland (Chile) (“RBS”); Corpbanca; Corporación Interamericana de Inversiones; and Banco del Estado de Chile.

Invertec was ranked tenth among the Chilean salmon producers in 2008 with US$ 74.8 millions exported.