China Fishery inks US$425mln club loan facility

Facility to further strengthen the Group’s financial position and capital structure for possible future growth opportunities.

China Fishery Group Limited (“China Fishery”), a global leading industrial fishing company, is pleased to announce that it has signed a US$425 million Club Loan Facility Agreement (“The Facility”) on 17 November 2010.

The Facility is fully committed for four years and comprises a term loan facility of US$340 million and a revolving loan facility of US$85 million. The Facility will be used primarily for refinancing of existing debts and also for financing of general working capital needs, according to a China Fishery report.

Mr. Ng Joo Siang, Group Managing Director of China Fishery, commented, “This Facility will further strengthen the Group’s financial position and capital structure, providing us with greater financial resources and flexibility to manage our future growth opportunities.”

The club of banks forming the Facility are (in alphabetical order): Citic Bank International Limited, Coöperative Centrale Raiffeisen-Boerenleenbank B.A., Hong Kong Branch, DBS Bank (Hong Kong) Limited, The Hongkong And Shanghai Banking Corporation Limited and Standard Chartered Bank (Hong Kong) Limited.