Frisco Loan Meeting Set for Next Week

Frisco Loan Meeting Set for Next Week

Mexico Loans

Minera Frisco is scheduled to hold a bank meeting next week for a $1.1bn 5-year loan, postponing from today due to weather conditions on the US East Coast. The exact day is still unclear. The term loan, of which $750m will be used for the acquisition of Mexican mining assets and $350m for refinancing other debt, is expected to close before the end of the year, subject to the closing of the acquisition. The facility is secured by shares of the target, says a person familiar with the transaction.

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