Gold Fields takes $1.5bn demerger loans

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London (Reuters, 2012-12-03) – Barclays, Credit Suisse and JP Morgan have underwritten a $1.5bn financing package to back Gold Fields’ demerger of two gold mines and refinance existing Gold Fields [JSE:GFI] debt, bankers said on Monday. The three banks have opened a $900m loan to participation by other banks and will hold the remaining $600m as a bridge loan to a planned bond issue, the bankers said.

First Quantum ‘surprised and disappointed’ at Inmet Mining’s rejection of C$4.86b offer

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While some suggest First Quantum Minerals may not want to engage in a hostile takeover of Canadian copper miner Inmet, additional offers could be forthcoming from other companies. First Quantum Minerals confirmed Thursday that it had approached Inmet Mining on October 28th “on a friendly basis to discuss a possible combination of the two mining companies.