Carey
Isidora Goyenechea 2800, las Condes Piso 42 755-0647 Santiago, Chile
Tel:(+56 2)29282200, Fax:(+56 2)29282200, E-mail: carey@carey.cl
Latin Lawyer

Nova Austral issues bonds in Norway

14 August, 2017 by Emilio Demetriou-Jones

Carey has helped Chilean salmon farmer Nova Austral issue bonds worth US$300 million on the Norwegian stock market.

Nova Austral also hired Norway’s Advokatfirmaet Thommessen, Arendt & Medernach in Luxembourg and Spanish firm Uría Menéndez for the issuance.

Placement agents were Pareto Securities, DNB and Arctic Securities. Nordic Trustee led the agents and hired Norwegian firm Schjødt and Cariola, Díez, Pérez-Cotapos & Cía in Chile.

The offering closed on 22 July. DNB Bank also issued Nova a multi-currency revolving credit facility worth US$30 million, which closed on the same day.

Nova will use the funds from the bond offering to repay existing debt.

Norwegian fishing company EWOS acquired Nova in 2014 for US$180 million deal after Nova Austral’s former owners filed for bankruptcy proceedings in both Chile and Spain.

 
Counsel to Latin Lawyer

Counsel to Nova Austral

Carey

Partners Guillermo Acuña and Felipe Moro, counsel Patricia Silberman and associates Fernando Noriega, Loreto Ribera, Josefina Marshall and José Antonio Espinosa in Santiago

Advokatfirmaet Thommessen

Partners Halvor Mansåker and Marius Holm Rynning in Oslo

Uría Menéndez

Partner Juan Carlos Machuca and associate Enrique de Pablos Martínez-Fortún and Jorge del Castillo Golding in Madrid

Arendt & Medernach

Associate Urbain Gwiza in Luxembourg

Counsel to Nordic Trustee

Schjødt

Partner Thomas Dale in Oslo

Cariola, Díez, Pérez-Cotapos & Cía

Partner Rodrigo Sepúlveda and associate Sergio Balharry in Santiago