Horizonte Minerals draws $50 million on $346.2 million credit facility

Chicago, Feb. 28 – Horizonte Minerals plc completed a second drawdown on its $346.2 million of senior debt facilities, according to a press release.

The $50 million second tranche will be used to continue construction on the company’s nickel project in Brazil.

The facilities comprise a $200 million commercial tranche from senior lenders and two tranches totaling $146.2 million which is guaranteed by two export credit agencies (EKF, Denmark's Export Credit Agency and Finnvera plc, Finland's Export Credit Agency).

Reported in December, the senior debt facilities were executed between subsidiary Araguaia Niquel Metais LTDA and a syndicate of lenders including BNP Paribas, BNP Paribas Fortis, ING Capital LLC, ING Bank NV, Natixis, New York Branch, Societe Generale and SEK, Swedish Export Credit Corp.

Horizonte Minerals is a London-based nickel, gold, silver and base metal exploration and development company. The company is developing two tier 1 projects in Brazil.

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