Freeport in bank syndicate financing talks for new Indonesia smelter [UPDATED]

Freeport-McMoRan’s Indonesian unit is in financing discussions with a syndicate of banks for its new $3 billion copper smelter and expects the project will be funded by a bank loan.

The United States producer, one of the project’s joint venture partners, said that the economics of PT-FI’s share of the new smelter will be shared by its shareholders according to their respective share ownership percentages.
“As a result, FCX's future distributions from PT-FI will incorporate roughly 49% of the smelter debt service,” it noted.

This annual debt service cost of around $88 million to Freeport will essentially be offset by the phasing out of the...

Published

Andrea Hotter

January 23, 2020

17:08 GMT

New York