Spain's Pescanova gets 56 million euro lifeline

MADRID, June 28 Fri Jun 28, 2013 7:59am EDT

Related Topics

MADRID, June 28 (Reuters) - Indebted Spanish fishing firm Pescanova, which filed for insolvency in April, said on Friday it had obtained a 56- million-euro ($73 million) syndicated loan to cover its urgent financing needs.

Spain's largest banks were all involved in the syndicate, it said in a regulatory filing.

Pescanova's insolvency filing mentioned debts of 1.5 billion euros but financial sources have said that total debt is probably more than double that amount. (Full Story ($1 = 0.7691 euros) (Reporting by Tracy Rucinski; Editing by Clare Kane)