June 4, 2019 |
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
Canadian mining company comes to terms on a $2.5bn project finance facility in Chile