Narrative
Full Description
Project narrative
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 contributions from Bank of China (Grand Cayman Branch) and Bank of China (Sydney Branch) are captured via Record IDs #96417 and #110367. The contribution from ICBC is captured via Record ID #96418. Compañía Minera Antamina S.A. is one 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.
Staff comments
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. 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.