Phoenix Processor Financing

Situation

Phoenix Processor Limited Partnership ("PPLP"), the owner of the PV Ocean Phoenix, has historically been funded with a term loan from Nippon Suisan, a large international seafood company. As a condition of the loan, Nippon Suisan also conducted virtually all sales of product produced by the Ocean Phoenix. Although the arrangement has worked well for PPLP, changing market conditions have made the partners think that having more flexibility in marketing the product will be an advantage in the future. A refinancing of the PPLP debt was a prerequisite to building a wider marketing program.

ZS Role

Zachary Scott was engaged by PPLP as exclusive financial advisor to execute a competitive refinancing transaction that provided PPLP with the operating flexibility it needs.

Results

Zachary Scott arranged a highly competitive refinancing process that culminated in the closing of a flexible and attractively priced long-term credit structure with Bank of America.

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