Australis Mar’s $160 Million Credit Facility

Carey, Clifford Chance, Cariola Diez Pérez-Cotapos and Shearman & Sterling and Grandall Law Office advised on the transaction

Australis Mar secured a $160 million revolving credit facility granted by Bank of China, Macau Branch.??

Bank of China acted as mandated lead arranger and bookrunner, original lender, agent and security agent. ??

The loan will be used to consolidate, amend and restate existing export loans of the borrower, and to refinance existing financial debt and the export of the borrower, as well as for general corporate and working capital purposes.

The financing was guaranteed by Food Investment, a Chilean subsidiary of Chinese corporation Legend Holdings Corporation through its Chinese affiliate Joyvio Agriculture Development Co.

Cariola Diez Pérez-Cotapos has advised food and agribusiness investment platform Joyvio Group as parent and controller, its Chilean subsidiary Food Investment as guarantor, and Australis Mar as borrower, with a team including Rodrigo Sepúlveda, Francisco J. Illanes, Nicolás Vial, Franco Dalmazzo, Diego Martínez and Valentina Barros.

Shearman & Sterling advised Joyvio Group with Kenneth Ching, Alison Luiù

Clifford Chance advised Bank of China, Macau Branch with Maggie Lo, Cherry Zhou, Decheng Zhang and Beanka Chiang.??

In Chile, Carey advised Bank of China, Macau Branch with Felipe Moro (Picture) and associates Fernando Noriega, Diego Lasagna and Kriss Andia.

Grandall Law Office acted as Chinese adviser to the Guarantor and Joyvio.

Involved fees earner: Kriss Andía – Carey; Diego Lasagna – Carey; Felipe Moro – Carey; Fernando Noriega – Carey; Franco Dalmazzo – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Francisco Javier Illanes – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Diego Martínez – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Rodrigo Sepúlveda – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Nicolás Vial – Cariola, Díez, Pérez-Cotapos & Cía Ltda; Maggie Lo – Clifford Chance; Decheng Zhang – Clifford Chance; Cherry Zhou – Clifford Chance; Kenneth Ching – Shearman & Sterling;

Law Firms: Carey; Cariola, Díez, Pérez-Cotapos & Cía Ltda; Clifford Chance; Shearman & Sterling;

Clients: Australis Seafoods S.A.; Bank of China; Joyvio Group Co., Ltd.;

Author: Ambrogio Visconti.