Cormin, a Peruvian subsidiary of commodities trader Trafigura Beheer has closed a US$200mn syndicated borrowing base facility, via bookrunners and mandated lead arrangers Fortis and Natixis.
The transaction is structured as a one-year revolving borrowing base facility backed by non-ferrous metals and concentrates inventories as well as trade receivables in Peru.
It was syndicated out to a pool of six banks: Bayerische Hypo-und Vereinsbank, Crédit Agricole, Credit Suisse, Scotia Bank (Peru), Société Générale and Standard Chartered.
The Cormin group of companies in Peru, as well as Chile, Mexico and Bolivia provide supply and logistical support for mining activities along the Pacific coast of South America. In Peru, the group has investments in Condestable copper mine, Catalina Huanca zinc, lead and silver mine, and Volcan, a large lead, zinc and silver producer.
Cormin"s Peruvian facilities also include the "Antonio Cornetti Memorial Warehouse,” based in the Callao port district of Lima, dedicated to the handling and storage of lead concentrates. From this warehouse, Cormin supplies blended lead, zinc, and copper concentrates for smelters around the world.
The group runs similar facilities on a smaller scale in Copiapo in Chile and in Mexico.
Publication: Global Trade Review News
Provider: Exporta Publishing & Events Ltd
Date: October 4, 2007
10/5/07
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment