First Quantum increases loan to $3bn

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By Michael Turner
08 May 2014

Emerging markets-focused miner First Quantum has signed an oversubscribed $3bn two and five year loan facility that was increased by $500m when the syndication drew strong demand.

The London and Toronto-listed mining firm signed a $1.2bn term loan and a $1.8bn revolving credit facility.

The term loan is available to draw until April 8, 2016, while the revolver is due to mature on March 8, 2019. Both loans pay a margin of 275bp over Libor.


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