Omega Protein closes $10M term loan with U.S. Department of Commercial Fisheries Finance Program

Omega Protein Corporation (NYSE: OME), the nation's leading producer of Omega-3 fish oil and specialty fish meal products, today announced that it had closed a $10 million term loan with the U.S. Department of Commercial Fisheries Finance Program.  Proceeds from the loan will be used to reimburse the Company for prior expenditures for fishing vessel refurbishments and a state-of-the-art dryer system that should result in reduced emissions and improved product quality.  The loan has a term of 15 years, is amortized on a quarterly basis, and bears an interest rate at 5.73% per year.  The loan is secured by first liens on a Company fishing vessel and certain assets located at the Company's Reedville, Virginia facility.  

SOURCE Omega Protein Corporation