Cooke Aquaculture and Subsidiaries Close $300M Refinancing

On December 17, 2010, Cooke Aquaculture Inc., True North Salmon US Inc. and Salmones Cupquelan S.A. refinanced their existing credit facilities by entering into a credit agreement with, among others, National Bank of Canada, as administrative agent, whereby certain operating and term credit facilities totalling approximately $300,000,000 were made available to Cooke Aquaculture Inc., True North Salmon US Inc. and Salmones Cupquelan S.A. by National Bank of Canada, DnB NOR Bank ASA, Business Development Bank of Canada, Bank of Nova Scotia, Farm Credit Canada, Rabobank Nederland Canadian Branch, BMO Bank of Montreal, Canadian Imperial Bank of Commerce and Rabobank Chile. The facilities were guaranteed and secured by substantially all of the present and future assets of the subsidiaries and affiliates of the borrowers.

The lenders were represented in Canada by Stikeman Elliott LLP, with a team that included Jean Lamothe, Sylvia Avedis, Laura Salvati and Elizabeth Labrie, and by Cox & Palmer, with a team that included William Teed, QC, Josh McElman, Michael Gillis and Matthew DeWitt; in the United States by Foley & Lardner LLP, with a team that included James Manzi, Brian Wanek, Steven Chameides and Teri Champ; and in the Republic of Chile by Carey y Cia. Ltda., with a team that included Salvador Valdés, Juan José Bouchon, Arturo Poblete and Teresita García de la Huerta.

Cooke Aquaculture Inc. and its affiliates were represented in Canada by Stewart McKelvey, with a team that included Rodney Gould, Lee Bell-Smith, Alicia Love, Anne Sedgwick, Alanna Waberski, Stephen Winter, Benjamin Fairbanks and Curtis Toombs; in the United States by Eaton Peabody, PA, with a team that included David Austin, Matthew Worthen and Janice McNally; and in the Republic of Chile by Cariola Díez Pérez-Cotapos, with a team that included Sergio Díez and Andrea Saffie.