CAD 45 million term loan will be used to fund an operating lease package for salmon farmer to broaden aquaculture portfolio.
The funds from Integrated Asset Management Corp (IAM) (an alternative asset management company) provided via Lighthouse – to the sum of CAD 45 million (EUR 29.6 million) – will finance a portfolio of marine vessels and aquaculture equipment, including hydrolicer and thermolicer technologies, allowing the salmon farmer to access to environmentally friendly, pesticide-free treatment options in the event of sea lice infections, IAM wrote in a press release.
Stephen Zagrodny, Director of IAM Private Debt Group said, “IAM is excited to partner with such a high-quality business and contribute to Cooke’s incredible growth story. We worked very hard with the Cooke and Lighthouse teams to deliver an operational lease structure for this transaction, which demonstrates the flexibility we can offer borrowers. We hope to continue building this relationship and are looking forward to a long term partnership with both Cooke and Lighthouse.”
Lighthouse Finance is an operational leasing and asset management company focused on the global aquaculture industry. Lighthouse will manage the operational lease structure throughout the term of the financing, monitoring the assets, and cash flows for IAM.