China Fishery signs USD425 million club loan facility

China Fishery Group Limited, a global leading industrial fishing company, is pleased to announce that it has signed a USD425 million Club Loan Facility Agreement on 17 November 2010, reports www.megafishnet.com with reference to China Fishery Group.

The Facility is fully committed for four years and comprises a term loan facility of USD340 million and a revolving loan facility of USD85 million. The Facility will be used primarily for refinancing of existing debts and also for financing of general working capital needs. 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.