Vancouver-headquartered Bear Creek Mining has engaged BNP Paribas and Société Générale as joint lead arrangers for a $400-million senior secured credit facility, which it plans to use for the fully permitted, Corani silver/lead/zinc project in Peru.
“The BNP Paribas and Société Générale mining teams successfully arranged project financings totalling $13-billion in 2018. This impressive record combined with their extensive Peruvian experience makes them an excellent partner for Bear Creek to advance the Corani project toward a production decision,” commented president and CEO Anthony Hawkshaw.
The arrangers would use commercially reasonable best efforts to arrange the facility with a syndicate of banks and financial institutions. Under this engagement, BNP and Société Générale would retain external consultants to provide arms-length due diligence investigations, assess syndication and commodity market conditions, and develop terms and conditions for the facility.
Shares in Bear Creek Mining traded 10% up at C$1.84 a share by 11:15 in Vancouver.