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Hochschild announces loan facility for Inmaculada
Hochschild announces loan facility for Inmaculada.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \nRNS Number : 7078A Hochschild Mining PLC 25 March 2013 \n \n\n \n \n25 March 2013\n \n \n \nHochschild Announces US$140 million loan facility with BBVA Continental and Banco Credito del Peru for Inmaculada Project\nHochschild Mining plc (\"Hochschild\") announces that its 60% owned joint venture Minera Suyamarca S.A.C (\"Suyamarca\") has entered into a $140 million secured loan facility (the \"Facility\") with BBVA Continental and Banco Credito del Peru to partially finance the initial capital expenditure for the Inmaculada project (total capital expenditure $370 million). \n \nThe loan facility has a term of seven years with no principal payable for the first two years. The interest rate is based on the 3-month LIBOR rate plus 3.0%, with customary closing fees and charges. The loan will be non-recourse to both Hochschild and International Minerals Corporation who own the remaining 40% of Suyamarca.\n \nSuyamarcaowns 100% of the Pallancata mine as well as the Inmaculada project in Peru, with Hochschild being the operator of both properties.\n______________________________________________________________________\n \nEnquiries:\nHochschild Mining plc\nCharles Gordon +44 (0)20 7907 2934\nHead of Investor Relations\n \nRLM Finsbury\nCharles Chichester +44 (0)20 7251 3801\nPublic Relations\n______________________________________________________________________\n \n \nAbout Hochschild Mining plc\nHochschild Mining plc is a leading precious metals company li...