BOSETO DEBT DRAWDOWN & HEDGING
Highlights:
- All the requirements for the Boseto copper project debt finance have been completed and first draw down of debt funding is anticipated shortly.
- The debt syndicate comprises Standard Chartered Bank, Standard Bank, Credit Suisse and Caterpillar Finance as Joint Lead Arrangers.
- The interest rate for the loan is a margin of 3.75% over LIBOR.
- The Boseto copper project remains on track for commissioning and first production in the first half of 2012.
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