Marubeni secures financing for copper mining projects in Chile
Thursday, 03 Sep 2009
JCN reported that Marubeni LP Holding BV completed a loan agreement for USD 650 million for the acquisition of 30% equity interests in Minera Esperanza and Minera El Tesoro on August 31st 2009.
The loan took the form of co financing between Japan Bank for International Cooperation and 3 Japanese commercial banks, Sumitomo Mitsui Banking Corporation, Mizuho Corporate Bank and The Bank of Tokyo-Mitsubishi UFJ.
Japan Oil, Gas and Metals National Corporation provided a guarantee to cover comprehensive project risks for a portion of the loan provided by the commercial banks. With the loan, Marubeni has transferred part of the project risks related to the acquisition to the parties involved in this loan. For arranging this loan, The Royal Bank of Scotland plc and Mizuho Corporate Bank acted as co financial advisors to Marubeni Corporation.
