FINWIRES · TerminalLIVE
FINWIRES

McEwen Copper Appoints Societe Generale as Financial Advisor for Project Debt Financing of Los Azules

By

McEwen Copper (MUX.TO, MUX) on Thursday said it retained Societe Generale to act as its sole financial advisor in connection with project debt financing of the company's Los Azules copper project in Argentina.

Societe Generale will lead the structuring and arrangement of a senior debt package to fund the construction of the project. Its scope of work spans both preparatory and implementation phases and includes development of the financing strategy; coordination of lenders' technical, market, environmental and social, insurance, audit and tax due diligence; preparation of the lenders' information package; and assistance with the negotiation.

"Bringing Societe Generale on board marks a significant step in advancing Los Azules toward construction," said Michael Meding, managing director of McEwen Copper. "Societe Generale's global project finance platform and long-standing relationships with the export credit agency, multilateral and commercial banking community make them an ideal partner to help us assemble a robust, competitively priced debt package for one of the world's largest undeveloped copper projects."

Shares of the company closed down $1.59 to $33.91 on the Toronto Stock Exchange.

Related Articles

Treasury

US Treasury Closing Levels

3:00 Thursday vs 3:00 Wednesday2yr 99-17+ vs 99-18; 3.990% vs 3.988%5yr 98-29 vs 98-27; 4.119% vs 4.128%10yr 99-10 vs 99-05; 4.459% vs 4.478%30yr 99-25+ vs 95-14; 5.011% vs 5.045%2/10 46.701 bps vs 48.902 bps5/30 89.036 bps vs 91.576 bps

Treasury

Badger Infrastructure Solutions Closes C$300 Million Senior Unsecured Note Offering

Badger Infrastructure Solutions (BDGI.TO) closed a private-placement offering of $300 million aggregate principal amount of 5.375% senior unsecured notes due May 14, 2031, the company said on Thursday.The company will use proceeds to repay indebtedness under its credit facilities, including its term facility."We are very pleased with the strong support from our new Canadian fixed income investors in our inaugural note offering," said Rob Dawson, Badger's Chief Financial Officer. "With this successful financing complete, Badger remains well positioned to continue its strategy of investing for growth while maintaining a strong balance sheet."The company's shares were last seen up $1.19 to $82.11 on the Toronto Stock Exchange.Price: $82.05, Change: $+1.13, Percent Change: +1.40%

$BDGI.TO
Treasury

BMO Notes Leaders in Artificial Intelligence Exports

A large portion of the spending wave on the Artificial Intelligence (AI) buildout in the United States is in fact directed at imports, said Bank of Montreal (BMO).Of course, some exporting economies are on the other side of those sales, pointed out the bank.BMO has recently noted the blast-off in Taiwan, whose exports to the U.S. have rocketed 98% year over year in the most recent three months. This, in turn, has lifted that economy's real gross domestic product by almost 14% in the last year alone, the fastest growth in nearly 40 years.A little less spectacularly, but still impressive, Vietnam grew more than 8% year over year in Q1, while Indonesia was up 5.6%, and the large and more mature South Korean economy has expanded a solid 3.6% year over year, added the bank.All are faster than pre-COVID norms. On a weighted basis, these four have accelerated from 3.3% GDP growth a year ago to 6.8% in Q1.With a total weight of about 4% of global GDP, these medium-sized economies account for 0.3 percentage point -- or about 10% -- of the world's current 3% growth, according to BMO.

$$CXY