Bloomberg News

Pacific Andes Said to Hire Rabobank on 110 Million Euro Loan

May 02, 2012

Pacific Andes International Holdings Ltd. (1174) hired Rabobank International to coordinate a 110 million euro ($145 million) loan, proceeds of which will help refinance debt used for an acquisition, according to three people familiar with the matter.

Pacific Andes last year bought a 19 percent indirect equity interest from Icelandic Group HF in two Pickenpack Hussman & Hahn frozen seafood processing plants in Germany and France, according to data compiled by Bloomberg.

The two units are the borrowers on the loan guaranteed by Pacific Andes, one of the people said. Rabobank helped provide the original loan for the acquisitions, another person said. Both people asked not to be identified because the details are private.

Pacific Andes’s Singapore-listed affiliate, Pacific Andes Resources Development Ltd. (PAH), signed a separate $100 million loan on April 30, according to a Hong Kong stock exchange announcement. That loan was arranged by Taipei Fubon Commercial Bank Co., one of the people said today.

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net


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