CDB pledges 274 million to support Chinalco in development of the Toromocho Project
Pledged amount
$ 321709854.8716815
Adjusted pledged amount
$ 321709854.8716815
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Peru
Sector
Industry, mining, construction (Code: 320)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In September 2012, CDB issued a memorandum indicating its commitment to lend US$274 million to Chinalco Peru for certain designated projects in relation to the development of the Toromocho Project, in which US$100 million was cancelled later due to delay of related specific project. Pursuant to this memorandum, the Group has obtained banking facilities which are guaranteed by Chinalco (Note 22(b)) and bear an interest rate at LIBOR plus 3.5% per annum.
Number of official sources
1
Number of total sources
1
Details
Cofinanced
No
Direct receiving agencies [Type]
Minera Chinalco Perú S.A. [Joint Venture/Special Purpose Vehicle]