Five clubbing China Fishery $650m bridge refinancing

China fishery Group is in talks with a group of five banks for a $650m financing, as it looks to refinance a bridge loan maruring on February 26.  By Rashmi Kumar  21 Feb 2014

Citic Bank International, DBS, HSBC, Rabobank and Standard Chartered are providing the funds as a club, according to a banker on the deal.

The loan will be split between a $100m one year bridge, a $450m four year term loan and a $100m four year revolver, he ?..

MR PATRICK THOMAS SIEWERT 58, was appointed as a Non-Executive Director of the Company on July 28, 2010 and was last re-elected as a Director on January 28, 2013. Mr Siewert is also a member of the Audit and Risk Management Committee, Investment Committee and Corporate Social Responsibility Committee. He is a managing director of the Carlyle Group,  focused on investments in consumer and retail businesses across Asia since April 2007. Prior to joining the Carlyle Group, Mr Siewert held various positions in Asia including group president and president and chief operating officer and corporate executive committee member of the Coca-Cola Company during the period from 2001 to 2007. 

China Fishery is " making progress" on refinancing the bridge loan, Finance Director Chan Tak Hei said by phone from  Hong Kong  on Feb. 27, declining to elaborate citing disclosure rules. The company aims to complete the refinancing this month, according to a Feb. 11 stock exchange filing.