After weeks of negotiations, nine Chilean banks reached an agreement with AquaChile to refinance the farmed salmon company’s debt, BCI, Chile’s third largest bank, announced on Tuesday.
AquaChile’s debt amounts to about USD 380 million (EUR 274 million). One of the world’s largest farmed salmon producers, AquaChile has been forced to curb production and lay off workers over the past year-and-a-half as a result of the infectious salmon anemia (ISA) outbreak. ISA is an influenza-like virus that afflicts fish but not humans.
BCI said the agreement demonstrates the banks’ confidence in the viability of Chile’s farmed salmon industry and allows producers to focus on resolving production, sanitary and regulatory issues.
According to the news Web site BNamericas.com, the other eight banks involved in the deal are BBVA Chile, Banco de Chile, Santander Chile, BancoEstado, Corpbanca, Bice and subsidiaries of Dutch bank Rabobank and Brazilian bank Ita Unibanco.
