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Consorcio Minero S.A. Raises
USD200 Million Syndicated Borrowing Base Facility
October 3rd 2007
Consorcio Minero SA – CORMIN (“Cormin”), a Peruvian subsidiary
of commodities trader Trafigura Beheer, has successfully closed a
USD 200 million syndicated Borrowing Base facility. Bookrunners and
Mandated Lead Arrangers are Natixis and Fortis, Natixis acting also
as security agent and Fortis as documentation agent.
The transaction is a 1 year revolving borrowing base facility
backed by non-ferrous metals and concentrates inventories as well
as trade receivables in Perú.
The facility was successfully syndicated to a pool of six banks
including Bayerische Hypo- und Vereinsbank AG; Crédit Agricole
(Suisse) SA; Credit Suisse; Scotia Bank Peru; Société Générale;
Standard Chartered Bank.
The Cormin group of companies in Peru, Chile, Mexico and Bolivia
provide an independent source of supply and logistical support for
the key mining activities along the Pacific coasts of South
America.
In Lima, Cormin facilities include the 'Antonio Cometti Memorial
Warehouse'. This facility, based in the Callao port district,
encompasses a 105,000 m2 warehouse facility, including 11,000m2
hermetically and climate control sealed warehouse dedicated to the
handling and storage of lead concentrates.
From the warehouse facility Cormin supplies blended lead, zinc
and copper concentrates for a large number of smelters across the
world. The Group also operates similar facilities on a smaller
scale in Copiapó in Chile and in Mexico.
Trafigura is one of the largest independent commodity trading
companies in the world. It maintains 51 trading offices in 36
countries and provides global coverage across the world's main
commodity markets.
Founded in 1993, Trafigura is owned by its founding shareholders
and senior management. It has achieved substantial growth in the
last five years, growing turnover from US$9 billion in 2002 to
US$45 billion in 2006.
Notes to Editors
- Trafigura is one of the world’s leading international commodity
traders, specialising in the oil, minerals and metals market, with
51 offices in 36 countries in Europe, Africa, Asia, Australia, and
North, Central and South America. Its principle corporate offices
are in Amsterdam, London and Lucerne.
- Trafigura’s primary trading businesses are the supply and
transport of crude oil, petroleum products, natural gas, liquefied
natural gas, metals (including copper lead, zinc and aluminium) and
metal ores and concentrates.
- It is the world’s second largest independent non-ferrous
trading company and the third largest independent oil trader.
- Founded in 1993, the company is owned by its founding
shareholders and senior management. It has achieved substantial
growth in the last five years, growing turnover from US$9 billion
in 2002 to US$45 billion in 2006.
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For further information go to: www.trafigura.com