Chilean salmon farmer Nova Austral is facing a liquidity crisis that is now affecting the company's ability to meet its financial obligations, the company announced to shareholders on Friday.

The company is calling for a bondholders' meeting on Aug. 10 to ask for a five-and-half-year maturity extension for $300 million (€253 million) worth of outstanding bonds and amendments to the bonds' terms.

To ease the liquidity pressures, the company is proposing for bondholders to accept a temporary suspension of coupon payments and have them paid-in-kind.