CANADA: Provincial loan for Clearwater Seafoods Limited Partnership

The Canadian Province of Nova Scotia, through the Economic and Rural Development department’s Industrial Expansion Fund, will be particpating in a syndicated loan to Clearwater, a Canadian company employing more than 1,200 employees throughout Nova Scotia selling seafood, including scallops, lobster, clams, coldwater shrimp, crab and ground fish

The Province will take CAD 15 million, out of a total of CAD 57 million to help pay down Clearwater's CAD 95 million debt, and will hold a first security interest on Clearwater’s commercial fishing licenses and quotas, and a second security on all other tangible and intangible assets.

Here are a number of links with the news:

http://thechronicleherald.ca/Business/1125225.html

http://www.google.com/hostednews/canadianpress/article/ALeqM5jUWumBBUeWNNkqcwGFJGZZMq5CPw

http://www.newswire.ca/en/releases/archive/June2009/01/c9441.html