4th Apr 2019 13:33
LONDON (Alliance News) - Antofagasta PLC said Thursday that its subsidiary Antofagasta Minerals SA has completed the financing of the Los Pelambres Expansion project in Chile, with the USD1.3 billion cost to be debt financed.
The debt financing consists of two tranches, one of which being USD425 million with a 10-year term from Japan Bank for International Cooperation.
The second tranche is USD875 million with a seven-year term, coming from a consortium of banks including Mizuho Bank, Export Development Cnada, Scotiabank, Sumitomo Mitsui Banking Corp and Bank of China.
"I am pleased the expansion of Los Pelambres has been financed on favourable terms with the support of a strong group of lenders. This demonstrates the significant financing capacity of the group and will enhance the already strong returns of the project," said Chief Executive Ivan Arriagada.
Shares in the FTSE 100-listed copper miner were down 0.8% at 985.80 pence on Thursday.
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