North American frozen seafood giant High Liner Foods concluded an early refinancing of its senior secured term loan to reduce its debt from $370 million (€332 million) to $300 million (€270 million) and extending the term from April 2021 to Oct. 2026.

"With improved earnings and less debt, the company's financial position continues to strengthen," CEO Rod Hepponstall said.

The amendments of the loan include decreasing the principal amount outstanding from $324 million (€291 million) to $300 million, extending the term on the loan from April 2021 to Oct. 2026 and raising the roof for interest rates under the facility from LIBOR plus 3.25 percent to LIBOR plus 4.25 percent.

Global investment bank RBC Capital Markets acted as lead arranger and bookrunner for the debt amendments.

As previously announced on May 30, 2017, the company completed the acquisition of Rubicon Resources, LLC for $107 million (€95.1 million), which was settled 70 percent in cash borrowed on the company's existing asset-based revolving credit facility and 30 percent in High Liner Foods' common shares.