Teck settles Quebrada Blanca financing

Teck settles Quebrada Blanca financing

Loans Project & Infrastructure Finance Debt Chile Andean Canada Japan Asia

Canada's Teck Resources said it has signed a $2.5bn loan to fund the expansion of the Quebrada Blanca copper mine in Chile. Nine lenders — BMO, BNP Paribas, EDC, JBIC, KfW IPEX Bank, Korea Exim Bank, ING, Mizuho, MUFG and SMBC — supplied a 12-year project finance facility for $2.2bn. The financing also included a $300m covered tranche backed by the Korea Eximbank and the German government's UFK untied loan guarantee. Teck owns 60% of the borrower, Compañía Minera Teck Quebrada Blanca, while the

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