Flor & Hurtado, Abogados and Milbank advised the lenders on the transaction Lexim Abogados advised Aurelian Ecuador S.A. as local counsel and Norton Rose Fulbright advised the Company on international law matters.
The Bank Of Nova Scotia, Caterpillar Financial Services Limited, Ing Capital Llc, Natixis, New York Branch, SGAmericas Securities, Llc., Bank of Montreal and KFW Ipex-Bank GmbH closed a US$350 million secured loan facility – consisting in $250 million senior commercial facility and $100 million senior covered facility under a raw material guarantee provided by Finnvera plc – with Aurelian Ecuador S.A.
Aurelian has drawn US $159 million on April 2nd 2019, under its senior secured debt Facility (first disbursement). The funds will be used to advance the development of the Company’s Fruta del Norte gold project. The Company has US$191 million remaining under the Facility available to be drawn at its option.
Aurelian Ecuador S.A., a subsidiary of Vancouver-based mining company Lundin Gold Inc., is currently developing the Fruta del Norte gold-silver project in Ecuador. Lundin Gold acquired the project from Kinross Gold Corp.
The Ecuador based firm of Flor & Hurtado, Abogados, advised the Lenders as local counsel with a team including Mario Flor (Picture), Andrés Ycaza and Daisy Ramirez
Milbank advised the Lenders on international law matters with a team including Alexander Borisoff (Picture), Tim Fitzpatrick, Jared Ragozine and Jacqueline Durand.
Lexim Abogados advised Aurelian Ecuador S.A. as local counsel and Norton Rose Fulbright advised the Company on international law matters.
Involved fees earner: Mario Flor – Flor & Hurtado; Daisy Ramirez – Flor & Hurtado; Andrés Ycaza Palacios – Flor & Hurtado; Alexander Borisoff – Milbank; Jacqueline Stephanie Durand – Milbank; Timothy Fitzpatrick – Milbank; Jared Ragozine – Milbank;