Cariola assists DNB Bank in refinancing of €1.800m credit facility

Cariola Díez Pérez-Cotapos has advised DNB Bank and a syndicate of lenders on the refinancing of Mowi’s 1,800,000,000 euro credit facility

 Cariola Díez Pérez-Cotapos has assisted DNB Bank ASA as lender and agent for the credit facility and guarantee, as well as a syndicate of lenders consisting of Nordea Bank Abp, subsidiary i Norge, Coöperatieve Rabobank U.A., ABN AMRO Bank N.V., Danske Bank A/S, Skandinaviska Enskilda Banken AB (publ) and Crédit Agricole Corporate & Investment Bank, in connection with the refinancing of Mowi’s existing €1,800 million bank credit facility.

The transaction, closed on 24 September, included a five-year secured revolving credit facility agreement linked to sustainability, plus an accordion option for a possible increase of the facility by an additional €300 million. The financing was secured in Chile by the guarantee of the Chilean subsidiaries of the Mowi group, the pledge on the shares issued by these Chilean subsidiaries and the pledge on the assets owned by the Chilean subsidiaries (biomass and aquaculture licences).

Advokatfirmaet Thommessen AS, participated as Norwegian counsel to the lenders; while NDI Abogados, acted as Chilean counsel to Mowi and Kluge Advokatfirma AS, as their Norwegian counsel.

Cariola’s team was led by partner Juan Antonio Parodi (pictured left), with support from partner Javier Cerón (pictured top center) and associates Teresita Fernández (pictured bottom center), Constanza Saiz (pictured top right) and Glen Rybertt (pictured bottom right).