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Nyrstar scales back debut borrowing base
24 March 2010
Zinc producer Nyrstar has scaled back commitments on its debut borrowing base facility.
Read more:
Nyrstar borrowing base
listed metals producers borrowing base
return to secure trade finance structures
Banks have seen their commitments scaled back for a debut borrowing base facility for the world’s largest zinc producer, Nyrstar.
Deutsche Bank is the mandated lead arranger on the loan and had fully underwritten the multicurrency loan which originally launched at Eu300 million. The deal has a maturity of four years with a run-off period during the fourth year (Trade Finance 23/02/10).
The syndication process was more than twice over-subscribed. Nyrstar eventually scaled back allocations to Eu400 million.The participating banks in the facility are BNP Paribas Fortis, Deutsche Bank, Fortis Bank Nederland,...
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