McEwen affiliate McEwen Copper closes USD 240 million term loan for Los Azules project - MUX News | RalliesMcEwen affiliate McEwen Copper closes USD 240 million term loan for Los Azules project
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MUX• McEwen Copper closes USD 240 million term loan
- McEwen Copper, a 46.3%-owned affiliate of McEwen, closed a USD 240 million senior secured 4-year term loan facility.
- Proceeds are earmarked for engineering and early works at the Los Azules copper project in San Juan, Argentina.
- The facility carries 12% annual interest, paid monthly; principal is due at maturity; early repayment triggers a 5% fee.
- Final investment decision is targeted for mid-2027; commercial copper cathode production is targeted for 2030, subject to financing and approvals.
- Lenders received 15,000 five-year McEwen Copper warrants per USD 1 million; the exercise price is set at USD 40 per share.
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