Vitapro gets extension of a syndicated loanJuly 10, 2017, by Luis Bulcao Pinheiro - LATIN LAWYER
Chilean trout and salmon producer Cultivos Yadrán extended the term of a US$49.2 million loan.
Morales & Besa worked as counsel to Itaú Corbanca, Banco del Estado de Chile and Santander. Carey advised Vitapro, which is also part of the lender’s syndicate.
The debtor and its creditors reached the agreement on 20 June.
Yadrán underwent a restructuring in 2010 after salmon production was hit by the infectious salmon anemia (ISA) virus. While the company’s production was interrupted at the time, it has since recovered and exports to Asia, Europe, the US and Latin America.
Counsel to Itaú Corbanca, Banco del Estado de Chile and Santander
Morales & Besa
Partner José Miguel Carvajal, and associates Edmundo Varas and María Francisca Estrougo
Counsel to Vitapro
Partner Francisco Ugarte and associate Alejandra Daroch