Debevoise & Plimpton and Cleary Gottlieb Steen & Hamilton have advised on a $6.75 billion loan from Japanese trading company Mitsui & Co. Ltd. to Chilean copper giant Corporación Nacional del Cobre de Chile (Codelco).
The loan will finance Santiago-based Codelco’s acquisition of 49 percent of the Chilean business of U.K.-based mining company Anglo American PLC. The loan agreement gives Codelco the option of repaying part of the loan by granting Tokyo-based Mitsui a 50-percent interest in Codelco’s Anglo American holdings.
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