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Analysis

Pacific Andes fishing arm hangs on to funds on poor Peru catches

Company decides not to call Copeinca's $250m bond, citing need to conserve cash because of low Peruvian anchovy catches seen as sign of upcoming El Nino

By Eva Tallaksen | June 19, 2014 10:05 BST
Peruvian anchovy fishing 'optimal' as fishmeal vessels catch 246,000t in 6 days
Anchovy fishing in Peru. Photo: Copeinca
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Anchovy fishing in Peru. Photo: Copeinca

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Pacific Andes' fishing subsidiary China Fishery Group has canceled its plans to redeem Copeinca's $250 million bonds, citing a need to conserve cash in light of low Peruvian anchovy catches [...]

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