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Horizonte gets loans for Araguaia ferro-nickel project

Horizonte Minerals has received credit approvals from a syndicate of five international financial institutions, which in addition to facilities from two export credit agencies, provide for a senior secured project finance facility of up to US$346.2 million to fund the construction and development of its Araguaia ferro-nickel project in Brazil.

Horizonte gets loans for Araguaia ferro-nickel project Horizonte gets loans for Araguaia ferro-nickel project Horizonte gets loans for Araguaia ferro-nickel project Horizonte gets loans for Araguaia ferro-nickel project Horizonte gets loans for Araguaia ferro-nickel project

Horizonte Minerals' Araguaia in Brazil

The first tranche the company arranged with export credit agencies is for $146.2 million with a 10.5 year term at LIBOR +1.80%. The second tranche of $200 million is over 8.