Cerro Verde adds mandated lead arrangers, grows deal

Cerro Verde adds mandated lead arrangers, grows deal

Cerro Verde is heard to have increased the size of its 5-year term loan to $1.8bn from $1.5bn, after a phone call with banks on Thursday. 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, Natixis, Santander, Scotia, SMBC and Societe Generale. They join leads Bank of Tokyo Mitsubishi-UFJ, BNP Paribas, Citi and HSBC. Leads are heard offering $75m

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