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Nyrstar debut borrowing base to hit target
23 February 2010
A debut borrowing base facility for zinc producer Nyrstar is proving popular in the syndications market and looks likely to hit its target amount say bankers close to the deal.
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A Eu250 million debut borrowing base facility for the world’s largest zinc producer, Nyrstar, is proving popular in the syndications market and looks likely to hit its target amount say bankers close to the deal.
Deutsche Bank is the mandated lead arranger and has fully underwritten the loan. The deal has a maturity of four years with a run-off period during the fourth year.
The new facility has a margin of 190 basis points over Euribor and will leverage the strength of the secured borrowing base and the underlying exchange traded commodity.
The amount that...
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