Chile’s second-largest pulp exporter Empresas CMPC has obtained $600 million in funding, Bloomberg reports. The company has secured $200 million in a three-year line of credit and a $400 million five-year syndicated loan.
For the syndicated loan, Empress will pay London interbank offered rate plus 65 basis points and Libor plus 70 basis points on the credit line. The funding has been obtained from Bank of America Corp., Bank of Tokyo-Mitsubishi UFJ, Export Development Canada, JPMorgan Chase & Co. and Bank of Nova Scotia.
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