Two BoC branches participate in $1 billion syndicated loan to Compañía Minera Antamina S.A. for general corporate purposes (Linked to Project ID#96418)

On July 12, 2021, Compañía Minera Antamina S.A. — a special purpose vehicle and joint venture of BHP Billiton (33.75% equity stake), Glencore (33.75% equity stake), Teck (22.5% equity stake), and Mitsubishi (10% equity stake) — signed a $1 billion syndicated loan agreement for general corporate purposes. The borrowing terms of the loan are unknown. There are 9 known members of the syndicate: the Bank of Nova Scotia; MUFG Bank Ltd; Bank of China Limited, Sydney Branch; Banco Bilbao Vizcaya Argentaria, S.A. New York Branch; Industrial and Commercial Bank of China Limited, Panama Branch; KfW IPEX-Bank GmbH; Citibank, N.A.; Bank of China Limited, Grand Cayman Branch; and JPMorgan Chase Bank, N.A. The contribution from Bank of China (Grand Cayman Branch) and Bank of China (Sydney Branch) is captured via Project ID#96417. The contribution from ICBC is captured via Project ID#96418. Compañía Minera Antamina S.A. is of the largest Peruvian producers of copper and zinc concentrates and one of the largest mines (polymetallic mining complexes) in the world in terms of production volume. The mine is located in the San Marcos district, Huari province, and Ancash region

Additional details

1. The sizes of the contributions from the Sydney Branch of Bank of China Limited, the Grand Cayman Branch of Bank of China Limited, and Industrial and Commercial Bank of China Limited (ICBC) to the loan syndicate are unknown. For the time being, AidData assumes equal contributions ($111,111,111) across the nine known members of the syndicate. Therefore, the total estimated contribution from Bank of China is $222,222,222 ($111,111,111 from each branch). The estimated contribution from ICBC is $111,111,111. 2. Sullivan & Cromwell advised Compañía Minera Antamina S.A. with a team including Sergio J. Galvis, Benjamin S.D. Kent and Sebastián Melero. In Perù, Rodrigo, Elías & Medrano advised Compañía Minera Antamina S.A. with Jean Paul Chabaneix, Nicolás Cornejo Germer and José Talledo. Miranda & Amado advised the banks with Juan Luis Avendaño Cisneros, Gabriela Dañino Sinclair and José Villafuerte Mendoza. Milbank advised the banks in US.

Number of official sources

1

Number of total sources

7