Morales & Besa advised DNB Bank ASA and Robofinance Chile SpA in connection with the refinancing of the financial debt of Salmones Austral SpA, Salmones Pacific Star S.A., Trusal S.A. and Comercial y Servicios Sur Austral Limitada with different Chilean banks. The $100m deal closed on July 18th.
Headquartered in Puerto Montt, Salmones Austral SpA., arose out of the merger of Trusal S.A., Pacific Star and Comsur Ltda in 2013. The company specializes in the production, processing and export of numerous salmon products. Austral is present in the main markets in the world such as China, Russia, USA, Brazil, the United Arab Emirates, France, Mexico and Spain among others.
The debt was allocated to Salmones Pacific Star S.A., as was the granting of a working capital financing line by the new lenders.
The banking & finance team, led by partner Myriam Barahona, assisted by senior associate Ignacio Menchaca and associates Bernardo Mora, Francisca Estrougo and Rubén Toro, acted as legal advisor to DNB Bank and Robofinance Chile.