Nevada Copper enters into US$115M credit agreement with KfW IPEX-Bank
May 31, 2019
115.00 Million USD
On May 31, 2019, KfW IPEX-Bank, a German-based bank, completed their US$115 million project finance of Nevada Copper Corp. for use in the underground mine at its Pumpkin Hollow Copper Project in Nevada USA.
KfW IPEX-Bank, a German based bank, entered into an agreement with Nevada Copper, a US based mining company, to provide project financing for Nevada Copper's Pumpkin Hollow Project. KfW IPEX-Bank has committed to fund the construction and operating costs of the underground mining project. KfW IPEX-Bank will finance the Pumpkin Hollow Copper Project following the repayment of Nevada Copper's existing senior debt facility from Red Kite Mine Finance. By replacing Nevada Copper's existing senior debt facility with attractive bank project finance, Nevada Copper will significantly reduce its debt service costs, extend its senior debt maturity, and substantially enhance its financial flexibility to manage construction of the project.
Located in Nevada, USA, Nevada Copper's Pumpkin Hollow Project has substantial reserves and resources including copper, gold and silver.
KfW IPEX-Bank is a wholly owned subsidiary of KfW, which is a German state-owned development bank based in Frankfurt. KfW IPEX-Bank supports German and European economies with project and export financings. KfW IPEX-Bank assists companies when entering difficult countries.
McCarthy Tétrault LLP advised KfW IPEX-Bank with a team led by Christopher Langdon that included Stephen Curran, Patrick Deutscher and James Clinton.