Camanchaca refinances liabilities to enter Norwegian stock exchange

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Compañía Pesquera Camanchaca is in the process of negotiation with the banks about refinancing its liabilities, reports Diario Financiero Online.

The refinancing, by DNB Bank and Cooperative Rabobank, of a US$ 165 million loan to refinance the company’s liabilities, is the first step in the financial restructuring of the company, that will lead to the listing of its subsidiary Salmones Camanchaca on the Oslo Stock Exchange.

The loan will be received in three different installments. The first two, for a total of US$ 65 million, are in the name of the parent company with maturity terms of two and five years each. The third is the subsidiary that will go public for US$ 100 million over a five-year term with three years of expiration.

The company expects to conclude the negotiations in the coming weeks, and to take the decision to launch the spin-off later this year.