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ARTICLE · 29 NOVEMBER 2017

Nova Austral issues bonds in Norway

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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.

ChileCorporate/Commercial Law
Originally Published By Latin Lawyer
Originally Published By Latin Lawyer

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.

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