Freeport raises billions to complete acquisitions

Phoenix — Freeport-McMoRan Copper & Gold Inc., based in Phoenix, says it has completed agreements with two bank syndicates providing committed financing for a $4 billion bank Term Loan and a new $3 billion Revolving Credit Facility, in connection with FCX’s proposed acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co.

The company explained the Term Loan will be drawn at the closing of the acquisitions and may be used to fund the cash portion of the acquisitions, refinancings of certain debt outstanding at Plains Exploration or McMoRan Exploration or for general corporate purposes.

For the complete article see the 03-06-2013 issue.

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