Rebaza, Alcázar & De Las Casas, in Lima, advised Pesquera Hayduk S.A., as debtor, on a $100 million credit facility granted by a Lenders’ Syndicate composed by DNB Bank ASA and Coöperatieve Rabobank U.A. The Lenders were advised by Estudio Echecopar. The transaction involved a loan agreement and a complex trust agreement over certain Debtor’s assets such as fishing vessels, furniture, licenses, among others. The transaction closed on December 23, 2020 and the first disbursement occurred on December 28, 2020. The proceeds of the loan will be used by Pesquera Hayduk to prepay existing indebtedness with local banks and other corporate purposes.
Pesquera Hayduk is a Peruvian fishing company with more than 25 years of experience in business lines that include flour, oil, preserves and frozen products.
Rafael Alcázar, partner at Rebaza, noted that “this financing is a milestone for our client, due to the amount of the facility, the complexity of the transaction and the timeline agreed by the parties for closing. We faced many challenges, including the prepayment of existing credit facilities, the termination of existing guarantees over the assets transferred to the trust under the new facility, and several coordination and negotiations with existing lenders.”
Counsels to Pesquera Hayduk
In-House Counsel: Pablo Nieto
Rebaza, Alcázar & De Las Casas: Partner Rafael Alcázar, Senior Associate Ana María Sánchez, and Associate Valeria Sánchez.