March 8, 2019 |
Chile's Minera Los Pelambres has secured a seven-year, $1.3bn loan from six banks, LatinFinance has heard.
Bank of China, EDC, JBIC, Mizuho, Scotiabank and SMBC priced the senior unsecured club loan at 120bp over Libor, said two sources close to the deal.
The money will fund the first phase of the $1.3bn expansion plans at Los Pelambres copper mine in the Coquimbo region.
Antofagasta, which owns 60% of Los Pelambres, said the mine expansion marks the company's largest investment in a single proj
Chilean copper mine gets $1.3bn from six lenders to fund its expansion plans