Seafood industry-focused Antarctica Advisors acted as the investment banking advisor to Ocean Choice International (OCI) in a C$240 million ($178 million) refinancing of its credit facilities with a syndicate of Canadian and U.S. lenders.

St. John’s, Newfoundland-based OCI is a seafood company engaged in harvesting, processing and marketing Groundfish and Shellfish species for domestic and international markets. OCI operates six frozen-at-sea fishing vessels and five processing plants employing more than 1,700 people in Atlantic Canada and at sales offices around the world.

Martin Sullivan, the CEO of OCI, commented: “This transaction is an important milestone for the future of OCI as a leading global seafood supplier. The company has now secured a flexible capital structure that will allow OCI to continue to grow and develop our operations for the benefit of all stakeholders, including our customers, our employees and the communities in which we operate.

Antarctica Advisors is an independent investment banking advisory firm providing its corporate clients in the food industry with wide range of specialized services, including capital raise and balance sheet restructuring advice.