Sierra Metals signs credit

Sierra Metals signs credit

Loans Debt Corporate & Sovereign Strategy Peru Mexico Canada

Sierra Metals said it has signed a $100m loan from Banco de Crédito del Perú (BCP) to pay off debt and fund investments in Mexico. The six-year senior secured loan priced at 315bp over Libor and came with a two-year grace period, the Toronto-based mining company said in a press release. "The main use of this facility is to repay the existing BCP credit facility at our Diabras Peru subsidiary, which was established at the time of the Sociedad Minera Corona acquisition in 2011," Sierra Metals CEO 

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