CVRD Closes $6 Billion Loan To Complete 84% Of Takeout

CVRD Closes $6 Billion Loan To Complete 84% Of Takeout

Brazil

Brazil's CVRD has closed a $6 billion two-tranche pre-export loan, grown from $5 billion on more than $12 billion in commitments. The deal, via ABN AMRO, Credit Suisse, Santander and UBS, means that CVRD has successfully completed 84% of the take-out of the bridge loan of $14.6 billion, taken to finance the acquisition of Canadian nickel-producer Inco. This leaves it with around $3 billion left to take out of the two-year bridge, which has also been refinanced in the local and dollar bond market

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