Sace’s untied financing spree continues with Codelco deal

Sace’s untied financing spree continues with Codelco deal

Chile’s state-owned copper giant Codelco has secured a US$500mn loan package backed by Italy’s export credit agency Sace, pledging to grow purchases from the European country as part of the deal. Under the terms of the deal, Sace is guaranteeing a loan provided by Santander and Commerzbank on an untied basis. The Italian agency’s support is provided under its Push strategy, which was launched in 2017 and aims to increase purchases of goods and s…

The Chilean Codelco has concluded a financing agreement guaranteed by the Italian group of insurance and finance SACE for 500 million dollars (440 million euros), under which it seeks to promote strategic alliances in the mining sector, together with promoting Italian exports and collaborations in Chile. This operation is the first that concrete the program in our country.