Philippi Prietocarrizosa Ferrero DU & Uría Chile has counselled the lenders locally on the financing for the development, construction, equipping, exploitation and operation of the expansion mining project called “Minera Centinela Project Expansion”, located in the Antofagasta Region, Chile.
The Project consists of the development, construction and operation of copper and molybdenum mining and processing facilities and related infrastructure at the Centinela mining property in order to mine and process copper and other minerals to produce copper concentrate, copper cathodes and associated products; market the copper concentrate, copper cathodes and other products produced; and the Minera Centinela Project Expansion, which comprises the acquisition, financing, development, construction and operation of facilities in the Minera Centinela mining district owned by Minera Centinela, including a second copper concentrator plant, a second molybdenum concentrator plant and an additional water pipeline, at the copper facilities owned by Minera Centinela.
In order to finance the project described above, Minera Centinela entered into 5 financing agreements amounting to (US$2.5 billion).
This transaction was signed on 15 March and closed on 4 April, and involved the Chilean and US (New York) jurisdictions, with Jara del Favero advising the borrower in Chile, and Milbank and Sullivan & Cromwell acting as advisors to the lenders and the borrower in the US, respectively.
Export Development Canada, Japan Bank for International Cooperation, KfW IPEX-Bank GmbH, The Export-Import Bank of Korea, Natixis (Spain), Natixis (New York), Société Générale, Crédit Agricole Corporate and Investment Bank, and Sumitomo Mitsui Banking Corporation acted as lenders.
PPU’s team was led by partner Marcela Silva, with the support of associates Pedro Pablo Valenzuela, Nicole Bercovich, Dominga Brito, Mario Fava, Felipe Ossa, Mario Mozó, Ariel Castillo, Daniela Leighton, María Ignacia Silva and Juan Estéban Laval.
