Ocean Choice International completes refinancing
November 18, 2016
St. John’s, NL – Ocean Choice International (OCI) announced today that it completed the refinancing of its credit facilities through a syndicate of North American banks under the coleadership of Desjardins Capital Markets and KeyBanc Capital Markets.
“This transaction is an important positive milestone for the future of OCI as a leading global seafood supplier. The new credit facilities provide OCI with a flexible capital structure that will allow the company to continue to grow and develop its operations for the benefit of all stakeholders, including our customers, employees and the communities in which we operate,” said Martin Sullivan, Chief Executive Officer.
“OCI has successful operations with positive financial results and we will continue to build upon our momentum to deliver the highest quality products to our customers around the globe. We are pleased with the results of the refinancing process and want to thank our employees who have been unwavering throughout the process,” said Blaine Sullivan, Chief Operating Officer.
Antarctica Advisors LLC, a leading seafood industry focused advisory firm, acted as the investment banking advisor to OCI in the refinancing process. “Antarctica provided valuable advice to OCI throughout the refinancing process that has resulted in a long term capital structure that fits our needs,” said Martin Sullivan.
The company also thanked its previous banker, LBI ehf (formerly Landsbanki), who has been the company’s banker since 2005 and assisted in the acquisition of the Fishery Products International Limited primary group assets in December 2007.
Ocean Choice International is one of Canada’s leading vertically integrated seafood harvesting, processing and marketing companies with operations throughout Atlantic Canada and has sales and marketing offices around the world. An MSC certified company and one of Canada’s largest wild fish quota holders, OCI is a leader in fishing and processing technology and market development.
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