Nueva Pescanova seeks €440 million in new credit to refinance debt and fund acquisitions after Abanca’s capital injectionExecutive summary: Nueva Pescanova hired EY to raise €440 million in credit to refinance current debt and finance possible acquisitions after a capital injection from Abanca. The transaction highlights the company’s deleveraging strategy and growth ambitions, influencing its financial structure and the broader seafood financing environment. Nueva Pescanova (borrower), EY (financial adviser), Abanca (provider of prior capital), potential acquisition targets and lending institutions. The company will finalize the credit facility, use proceeds to repay debt and pursue identified acquisition targets, while monitoring leverage ratios.The fishing group has turned to EY to arrange a substantial credit line aimed at paying down existing liabilities and financing potential takeovers. This follows a recent capital increase from Abanca, indicating a shift from balance‑sheet repair to active growth. The move will affect the company’s leverage, financing costs and could reshape consolidation prospects in the European seafood sector.Open the full case file on Beyond →
Social Pulse
AI estimate · not scraped