Estudio Echecopar counsels Santander on the repurchase of Pesquera Exalmar bonds

Estudio Echecopar has assisted Santander Investment Securities in the offer to buy back Pesquera Exalmar’s international bonds in Peru

 Estudio Echecopar, associated with Baker & McKenzie International, has counselled Santander Investment Securities Inc., as Dealer Manager, in the repurchase offer made by Pesquera Exalmar S.A.A. in respect of its international bonds denominated “8.000% Senior Notes due 2025” for a total aggregate amount of $59,107,000 US dollars.

The funds used for the repurchase offer were obtained from the proceeds of a medium-term loan granted to Pesquera Exalmar S.A.A. in the amount of USD 148’400,000 by Banco Santander, S.A. and Coöperatieve Rabobank U.A..

Pesquera Exalmar S.A.A. is a leading Peruvian company in the production of fishmeal and fish oil, mainly for the livestock and aquaculture industry, which also produces frozen seafood for human consumption, consolidating its position as the third largest producer of fishmeal and fish oil in Peru by 2020 in terms of volume, according to the Peruvian Ministry of Production.

Estudio Echecopar’s team was led by partner Alonso Miranda, with support from senior associate Renzo Luna.