Copperbelt loan for First Quantum.(First Quantum Minerals Ltd. receives loan from KBC Bank)(Brief Article)

From: Mining Journal | Date: July 20, 2001 | Copyright information

UK-based First Quantum Minerals Ltd has completed the arrangements for a US$14.25 million term loan secured against its Bwana Mkubwa copper operation in Zambia, and begun to draw down on the facility. The loan, provided by the Global Trade Finance group of KBC Bank, has a term of 18 months and bears interest at 250 basis points (100 bp = 1%) over the London Inter Bank Offered Rate. KBC has agreed to syndicate about one third of the loan with another international bank active in the ...

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