Peruvian Exporter Gets Term Loan

Peruvian fishmeal and fish oil producer Pesquera Exalmar has closed a 6-year $80m export-backed term loan, its first in the international market. The facility is secured by assets including vessels, licenses and processing plants, as well as export receivables from customers in Germany, Japan and China. It pays Libor plus 350bp. The unit of Corporacion Exalmar will use proceeds to pay down debt and fund its purchase of 50% of rival Corporacion del Mar for an undisclosed amount. WestLB arranged the loan, which included as participants BNP Paribas, Citi, Rabobank, Natixis and Israel Discount Bank.