AquaChile’s third quarter results reveal a 225 percent increase in net interest bearing debt year-on-year, as of the close of the third quarter.
The number may seem high, but it's not surprising considering the global economic climate, low salmon prices, and the influx of Chilean production over the past year, Glacier Securities CEO Ignacio J. Kleiman told IntraFish. Glacier is the New York-based subsidiary of Islandsbanki, one of the largest commercial banks in Iceland, and has expertise in seafood investments.
“This is an industry that is rebuilding,” Kleiman said.
