PPU acts for Export Development Canada in $2.5bn mining loan
Chilean law firm Philippi Prietocarrizosa Ferrero DU & Uría (PPU) acted as local counsel to Export Development Canada in the $2.5 billion financing of the development of the Quebrada Blanca 2 copper mining project.
The project is an open pit operation located in the northern Tarapacá Region, and which is being developed by Compañía Minera Teck Quebrada Blanca, which has a 90 per cent interest in the project, with the remaining 10 per cent owned by state-owned Empresa Nacional de Minería.
This is the most important financing of a mining project in Chile in recent years, PPU said in a statement.
The lenders included Bank of Korea, Bank of Montreal, BNP Paribas, ING Capital LLC, Mizuho Bank, LTD., MUFG Bank, and Sumitomo Mitsui Banking Corporation.
PPU partners Marcela Silva, Marcelo Armas, principal associate Nicolás Santana and associates Macarena Valenzuela, Francisca Rebolledo, Santiago Mesías and senior associate Natalia Czwiklitzer were PPU’s lawyers advising Export Development Canada.
Other law firms that acted in the transaction were Carey, Milbank and Sullivan & Cromwell.
