Bank loans
Source: Bloomberg News |
April 13, 2011, Wednesday
|
Print Edition
Print Edition
MINMETALS Resources Ltd, a unit of China's biggest metals trader, yesterday said three Chinese banks will provide at least US$4.6 billion of debt to fund its planned acquisition of copper producer Equinox Minerals Ltd.
A "Chinese institution" will invest a further US$600 million, Minmetals said in a statement to the Hong Kong stock exchange, without identifying the investor.
China Minmetals Non-Ferrous Metals Co, Minmetals' largest shareholder, will lend at least US$700 million, the firm said. Most of the US$4.6 billion debt will have a term of more than six years, Minmetals said. The Hong Kong-based company also plans to raise US$1 billion by selling shares.
A "Chinese institution" will invest a further US$600 million, Minmetals said in a statement to the Hong Kong stock exchange, without identifying the investor.
China Minmetals Non-Ferrous Metals Co, Minmetals' largest shareholder, will lend at least US$700 million, the firm said. Most of the US$4.6 billion debt will have a term of more than six years, Minmetals said. The Hong Kong-based company also plans to raise US$1 billion by selling shares.
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