Jones Day advised lenders on $500 million credit to Chilean miner

Jones Day acted for Japan Bank for International Cooperation, The Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui and Mizuho Bank on a $500 million syndicated loan for Minera Escondida.

Minera Escondida is Chilean company which operates the highest producing copper mine in the world. Its two open pit copper mines are located in the Atacama desert, 170 km southeast of Antofagasta in northern Chile. The company is jointly owned by BHP Billiton, Rio Tinto and JECO Corporation.

Proceeds of the financing will be used for the construction of a new sea water desalination facility, the life extension of an existing concentrator and production of copper concentrate and cathode for exporting to Japan and elsewhere. The loan is also expected to increase the production capacity of copper concentrate by the end of 2017.

Japan Bank for International Cooperation (JBIC) and The Bank of Tokyo-Mitsubishi UFJ, acted as lender and administrative agent. Sumitomo Mitsui and Mizuho Bank were also lenders.

Jones Day lawyers in Miami and Tokyo worked on this deal. Partner Richard Putré in Miami led the team advising The Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui and Mizuho Bank. In Tokyo Kaoru Umino fronted the group acting for JBIC.

Larraín Rencoret Urzúa acted as Chilean counsel to JBIC and the lenders.

Minera Escondida instructed Sullivan & Cromwell was US counsel and Urenda & Cía as Chilean counsel.

Jones Day advised lenders on $500 million credit to Chilean miner

Ignacio Abella

thelatinamericanlawyer.com

The Latin American Lawyer is a bimonthly digital magazine, published by Iberian Legal Group, available in Spanish and Brazilian Portuguese. It represents the main source of information in the legal business sector in America Latina. The digital magazine – and its portal – address to the protagonists of law firms and in-house lawyers. The magazine is available for free on the website and on Google Play and App Store.

In every issue of the magazine, you will find rankings of lawyers, special report on trends, interviews, information about deals and their advisors.

For further information, please visit the Group’s website www.lcpublishinggroup.com

Iberian Legal Group
Registered office: C/ Manuel Silvela, 8 - Oficinas 1 Dcha 28010 Madrid España

Copyright 2022 © All rights Reserved. Design by Origami Creative Studio

SHARE

Share on linkedin
Share on twitter
Share on facebook
Share on whatsapp
Share on email
Share on telegram