Cleary Gottlieb advised Frigorífico Concepción S.A. (FriCon) in a $161 million amended and restated secured credit agreement arranged by BofA Securities Inc., as sole lead arranger.
The existing credit agreement was upsized to integrate a new tranche for $81 million. FriCon used the proceeds of the term loan, which closed on April 19, 2024, for working capital and general corporate purposes.
FriCon is one of the leading beef processing companies in Paraguay, with presence in Brazil, United States, Bolivia, Chile, and Asia. Its principal activities are the slaughtering, deboning, processing, marketing, and distribution of beef products and by-products, either refrigerated or frozen.