Carey instructed on debt restructuring of Chilean fish producer

Carey advised Vitapro Chile in the debt restructuring of Cultivos Yadrán, a Chilean fish producer and exporter.

Under the restructuring deal, which covered over $20 million in debt, Vitapro Chile became party to a syndicated loan, acquiring 40% of the credits and benefiting from the existing collateral package granted by the debtor Cultivos Yadrán. As part of the deal, Vitapro Chile and Cultivos Yadrán agreed to extend the terms of the fish food supply agreement.

Partners Francisco Ugarte and Ricardo Reveco led the Carey team advising Vitapro Chile.

Morales y Besa advised the local banks while Cultivos Yadrán instructed Gutiérrez, Waugh, Jimeno & Asenjo Abogados.