Clearwater Seafoods plans to enter C$335 million credit facilities

By Paul A. Harris

Portland, Ore., April 17 – Clearwater Seafoods Inc. announced in a Monday press release that it plans to put in place C$335 million of senior secured credit facilities.

The Bedford, N.S.-based vertically integrated seafood harvester, processor and distributor also launched a $250 million offering of eight-year senior notes (expected ratings B3/B+) on an investor roadshow that began on Monday. Wells Fargo Securities LLC, BMO Securities, BofA Merrill Lynch, Rabo Securities and Scotia Capital are leading the bond deal.

The company plans to use the proceeds to repay debt under its existing credit facilities, with the remainder, if any, to be used for general corporate purposes.

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