28
Thu, Mar
51 New Articles

Mayer Brown Advises on USD 3 Billion Loan Facility to Canadian Mining Company

Deals and Cases
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Mayer Brown has advised Standard Chartered Bank and BNP Paribas on a five-year USD 3 billion loan facility to Canadian-based First Quantum Minerals, which has seven operating mines and five development projects around the world.

The facility comprises of a USD 1.2 billion Term Loan Facility available to draw until April 8, 2016 and a USD 1.8 billion Revolving Credit Facility available to draw until March 8, 2019.

Standard Chartered Bank and BNP Paribas were the Initial Mandated Lead Arrangers and Underwriters in the syndication, which also includes ABSA Corporate and Investment Bank, Barclays Bank Zambia, Barclays Bank Mauritius, Credit Agricole Corporate and Investment Bank, HSBC Bank, ING Bank., and Societe Generale joined as Mandated Lead Arrangers. Citibank, Export Development Canada, FirstRand Bank, Natixis, and Nedbank Limited joined as Lead Arrangers. Credit Suisse, Deutsche Bank, J.P. Morgan Chase Bank, Royal Bank of Canada, and Standard Bank of South Africa also joined the syndication, as will Jefferies Finance. 

The facility will be used by First Quantum Minerals to support the company's growth strategy.

As part of the arrangement Mayer Brown also acted for Standard Chartered Bank on a USD 350 million facility to Zambia-based Kansanshi Minerals – the owner of Africa's largest copper mine - which is part of the First Quantum Group.

This deal involved working with 40 different First Quantum borrower companies across 14 jurisdictions, including Mauritania, Zambia, Finland, Peru, Turkey, Spain, Canada, and Australia. 

Banking & Finance Partner Rachel Speight led the Mayer Brown team. She was assisted by Senior Associate Doye Balogun and Associates Bushra Shabazz, Sarai Jacob, and Mani Teherani.

 

Our Latest Issue