RIO DE JANEIRO, BRAZIL - (REUTERS) Bankrupt miner Samarco Mineraçao SA plans to receive a R$1.2 billion (US$238 million) debtor-in-possession (DIP) loan extended by its controlling shareholders, Vale SA and BHP Group Ltd, to maintain its activity, according to court documents reviewed by Reuters.
But a group representing 80% of Samarco’s debt, excluding Vale and BHP, opposes the move, saying the DIP financing goal would be to protect Vale and BHP assets.
Samarco would pay an annual interest rate of 9.5% and be able to generate enough cash to meet its obligations, the . . .
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