Ashurst advises Sandfire debt financing for purchase of Minas De Aguas Teñidas


Global law firm Ashurst advises Sandfire Resources Limited (Sandfire) on a US $ 650 million syndicated debt facility and A $ 200 million corporate debt facility to partially fund the acquisition by Sandfire from the Spanish mining complex Minas De Aguas Teñidas (MATSA) from Trafigura and Mubadala Investment company.

Sandfire has entered into a bought deal purchase agreement to acquire 100% of MATSA for a total consideration of US $ 1.9 billion (AU $ 2.6 billion). He will finance the transaction through a combination of a syndicated and guaranteed debt facility of US $ 650 million guaranteed by MATSA, a fully secured fund raising of A $ 1.2 billion, A $ 297 million. from existing cash reserves and the drawdown of an A $ 200 million corporate debt facility.

The transaction delivers the MATSA mining complex in Spain to Sandfire, which includes three underground mining operations feeding a 4.7 Mtpa central processing facility producing 100-120 ktpa CuEq per year. As a result, Sandfire will become one of Australia’s largest copper-focused producers.

Partner Gaelan Cooney commented:

“We are very pleased to advise Sandfire on the debt financing of the transformational acquisition of the MATSA mining complex in Spain. “

The Ashurst team was led by partners Gaelan Cooney (Projects, Perth), Adrian Lawrence (Projects, London) and José Christian Bertram (Global Loans, Madrid). The team included partners Matthew Wood, lawyer Marina Tinning and Borja Vázquez, partners Ffion Archer and Juan Aznar, junior partner Ignacio Piñeiro and lawyer Olufemi Omosuyi.

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