KGHM's $400m ticket sizes shock lenders, but deal still strong

Copper px230
By Michael Turner
25 Jun 2014

Emerging market loans bankers are balking at the frenetic competition surrounding Polish copper miner KGHM that has led to the borrower accepting top tickets of $400m on its new $2.5bn loan.

Around six Polish and international banks have shown their interest in the new five year loan, with some even offering tickets of up to $500m.

Although KGHM is unrated, at least two international lenders consider the firm to have a BBB- rating.

"Half a billion for a BBB-rated ...

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