Cerro Verde loan close expected this week

Cerro Verde loan close expected this week

Loans

Cerro Verde is expected to close its 5-year term loan this week, LatinFinance understands. The transaction has been increased to $1.8bn from $1.5bn and is heard to be oversubscribed. European, Canadian, Australian and Chinese lenders are participating, according to people familiar with the deal. Pricing is tied to a leverage grid at 190bp over Libor for leverage up to 1.5x, 215bp for between 1.5x and 2x, and 240bp for over 2x leverage. Mandated lead arrangers are BBVA, EDC, ICBC, Intesa, Mizuho,

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