Morales & Besa successfully advised DNB Bank ASA and Rabofinance Chile SpA in 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. This debt was allocated to Salmones Pacific Star S.A., and the granting by the new lenders of a facility to Salmones Pacific Star S.A. to finance working capital.
Salmones Austral is a Chilean funded company which developed from the merger of Trusal S.A., Pacific Star and Comsur Ltda. during 2013, and focuses on the production of farmed salmon of the coho and Atlantic species. Its headquarters are in Puerto Montt and its processing plants in Puerto Montt and Quellón, on the island of Chiloé.
The team of Morales & Besa that participated in this operation was integrated by partner Myriam Barahona; senior associate Ignacio Menchaca; and associates Bernardo Mora, M. Francisca Estrougo and Rubén Toro.