Ferrere advises on credit facilities for Cooke Aquaculture
Ferrere has counselled a group of banks in the granting of two lines of credit in favour of Cooke Aquaculture
Uruguayan law firm Ferrere has advised a syndicate of Canadian banks on the granting of two credit lines in favour of fishing company Cooke Aquaculture, maturing in April 2022.
The transaction had a value of approximately $663 million and was closed on 13 August. It included two financings: one in Canadian dollars for a total of 747 million (597 USD estimated) and the other in US dollars for $66 million.
The banks making up the syndicate were the following: DNB Capital, FCC / FAC, Bank of America, CoBank, HSBC Bank Commercial Canada, Rabobank Canada, Nordea, Bmo Bank of Montreal, Export Development Canada | Exportation et développement Canada, CIBC, Fédération des caisses Desjardins du Québec, Banque Laurentienne, Íslandsbanki, Landsbankinn, Arion banki, RBC and TD.
Cooke Aquaculture is a Canadian company with operations in Uruguay, Argentina and Chile. It is the largest fishing company in Uruguay, with a fleet of 21 vessels.
Ferrere’s team was formed by associates Federico Lemos Lorenzo (pictured right), Laura Oliveros (pictured top left) and Lucía Rosso (pictured bottom left).
