Analyst Research

Report Title Price
Provider: Thomson Reuters Stock Report
$25.00
Provider: Stock Traders Daily
$20.00
Provider: New Constructs, LLC
$25.00
Provider: MacroRisk Analytics/EconomicInvestor
$25.00

NYSE and AMEX quotes delayed by at least 20 minutes. NASDAQ delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Freeport-McMoRan Copper & Gold Inc Completes Agreements For Acquisition Term Loan And New Revolving Credit Facility


Tuesday, 19 Feb 2013 08:00am EST 

Freeport-McMoRan Copper & Gold Inc announced that the completion of agreements with two bank syndicates providing committed financing for a $4 billion bank Term Loan and a new $3 billion Revolving Credit Facility in connection with FCX`s proposed acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co. The Term Loan will be drawn at the closing of the acquisitions and may be used to fund the cash portion of the acquisitions, refinancings of certain debt outstanding at PXP and MMR or for general corporate purposes. The Term Loan will mature five years from the date of the first borrowing and will bear interest determined by reference to FCX`s credit ratings (currently LIBOR + 1.50%). In connection with the completion of the Term Loan, lender commitments under FCX`s acquisition bridge facilities have been reduced from $9.5 billion to $5.5 billion. In connection with the completion of the Term Loan, lender commitments under FCX`s acquisition bridge facilities have been reduced from $9.5 billion to $5.5 billion. In addition, FCX has entered into agreements for a new five-year $3 billion Revolving Credit Facility, which will replace FCX`s existing $1.5 billion revolving credit facility on completion of the PXP transaction. 

Company Quote

39.04
0.3 +0.77%
9 Jul 2014