The close of the 2020 financial year marked an important milestone for Blumar, achieving the refinancing of its short and long-term financial liabilities for a total of US$ 300 million.

As part of the voluntarily acquired commitments, Blumar agreed to set certain objectives related to Environment and Sustainability, such as increasing its efforts to obtain ASC certification for farming centers, reducing carbon footprint emissions in the different production processes, increasing the use of renewable energy sources, efficiently managing waste generated by production, and reducing the use of antibiotics in salmon farming.

In the refinancing subscribed by Blumar, Rabobank participated as manager and was seconded by BCI, Santander Chile, Security, and DNB Bank, which demonstrates the confidence that the financial system has in our Company.

Gerardo Balbontín, General Manager of Blumar Seafoods, commented “We assume this initiative that comes to strengthen our sustainability strategy, where we committed ourselves to meet environmental objectives within the term of the credit. We thank the banks for the confidence they have given us with this financing that is increasingly being used abroad”.

Blumar’s reprogramming and financing process is divided into two tranches: the first of them, for US$200 million, for a maximum period of 7 years, with two years of grace, with semi-annual capital amortizations and subject to compliance with certain financial covenants. The second for US$100 million, in the form of a committed credit line for Working Capital, for a period of 3 years.

This commitment is part of the company’s sustainability strategy, where one of its fundamental pillars is environmental responsibility. Undoubtedly, this agreement represents an important advance in the way we carry out our productive work.