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Cerro Verde prepares a US $ 305 million loan for expansion, subtracts US $ 525 million | ECONOMY


#Sociedad #Minera #Cerro #Verde announced that it has chosen to make a capital payment of US $ 305 million today, #December 30, in order to reduce its debt and strengthen the company’s balance sheet.

#In an #Important #Fact sent to the SMV, green #Hill explained that this payment represents an advance payment of the scheduled installment of US $ 305 million of a loan with various banks led by #Citibank as administrative agent, maturing on #December 31, 2021.

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#After this prepayment, the remaining loan balance is $ 525 million.

#As the market has been informed, in 2014 the #Company signed an unsecured senior syndicated loan agreement with various banks led by #Citibank NA as administrative agent, the disbursements of which were used mainly to finance part of the expansion project of the #Company”, #Says the statement.

green #Hill recalled that said contract was modified in #June 2017, maturing until #June 19, 2022 and increasing the loan amount to US $ 1,500 million. The outstanding balance of the loan as of #September 30, 2020 was US $ 830 million.

The aforementioned senior loan agreement establishes amortizations in four installments, 15% on #December 31, 2020 (fully prepaid as of #September 30, 2020), 15% on #June 30, 2021 (fully prepaid as of #September 30, 2020), 35% on #December 31, 2021 (US $ 305 million pending after the prepayment made in #March 2019) and 35% on #June 19, 2022 (US $ 525 million).

#Through this communication, we inform that the #Company has chosen to make a principal payment of US $ 305 million today, #December 30, in order to reduce our debt and strengthen our balance sheet. #This payment represents an advance payment of the scheduled installment of US $ 305 million due on #December 31, 2021. #After this advance payment, the remaining balance of the loan is US $ 525 million”, #Concluded the company.



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https://gestion.pe/economia/empresas/cerro-verde-paga-anticipadamente-us-305-millones-de-prestamo-para-expansion-resta-us-525-millones-noticia/

##Cerro ##Verde #prepares #million #loan #expansion #subtracts #million #ECONOMY

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