4 July 2013
Clifford Chance advises on MMG's Dugald River US$1 billion project financing
Beijing, Singapore: Leading international law firm Clifford Chance has advised China Development Bank Corporation (CDB) on a 13-year debt facility agreement of up to US$1 billion to finance MMG's Dugald River project, which involves the development and construction of a zinc, lead and silver mine located in north west Queensland, Australia. The Firm advised on the English, Hong Kong and Singapore law aspects of the financing transaction.
Beijing partner Maggie Lo said, "We were very pleased to advise on the financing as CDB expands its business overseas supporting major infrastructure and energy projects around the world."
The Dugald River facility will be available for draw down until 27 June 2016 with final repayment to occur on 26 June 2026. The banking syndicate included CDB and Bank of China, Sydney Branch.
The Beijing team was led by Maggie who was supported by counsel Paul Wee, and associates Mechelle Zhang and Victor Sim. The Singapore team was led by partner Ting Ting Tan and associate Zhi Chao Chor.