15th Apr 2014 13:14
LONDON (Alliance News) - First Quantum Minerals Ltd said Tuesday that it had signed and drawn down on its USD2.5 billion five-year term loan and revolving facility.
The facility consisted of a USD1 billion term loan facility with a margin of 2.75%, available to April 8, 2016, and a USD1.5 billion revolving credit facility with the same margin available until March 8, 2019.
The facilities were arranged and underwritten by Standard Chartered PLC and BNP Paribas, said the firm.
First Quantum said that its USD2.5 billion bridge facility with Standard Chartered for the acquisition of Inmet Mining Corporation has been cancelled.
Shares in First Quantum last traded down 3.2% at 1,111 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @hanassallnews
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