Vitapro Became Party To Cultivos Yadrán's Loan After Debt Restructuring - Finance and Banking - Mondaq Chile - Mondaq Business Briefing - Books and Journals - VLEX 649362041

Vitapro Became Party To Cultivos Yadrán's Loan After Debt Restructuring

Author:Latin Lawyer
Profession:Carey
 
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Gutiérrez, Waugh, Jimeno & Asenjo Abogados has helped Chilean salmon farmer Cultivos Yadrán restructure a US$50 million syndicated loan by changing the debt's terms and making its fish food supplier a creditor.

Morales & Besa advised the lenders, while Cultivos Yadrán's fish food supplier, Vitapro, turned to Carey. The deal closed on 6 June.

Cultivos Yadrán originally obtained the loan to fund a fish food supply deal with Vitapro, Alicorp Perú's Chilean fish food subsidiary. However, after running into payment difficulties, Cultivos Yadrán agreed to extend the term of the fish food supply agreement and accepted changes to the loan's interest rate. Vitapro became an equal party to the syndicated loan agreement, acquiring 40 per cent of the credits and...

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