ANNOUNCEMENT 25 Jun 2014
On 25 June 2014, the Japan Bank for International Cooperation (JBIC) signed an overseas investment loan agreement with Mitsubishi Corporation.
NUMBER OF INTERVENTIONS
The Japan Bank for International Cooperation, press release of 25 June 2014, Loan for Acquisition of Shares of Anglo American Quellaveco S.A. in Peru: http://www.jbic.go.jp/en/information/press/press-2014/0625-23098
JBIC information on overseas investment loans: http://www.jbic.go.jp/en/finance/investment
The overseas investment loan agreement between JBIC and Japanese Mitsubishi Corporation has a value of USD 390 million.
The loan finances the Japanese company's acquisition in 2012 of 18.1% of Peruvian Anglo American Quellaveco S.A. Through this acquisition, the Japanese company has obtained interests in the Quellaveco Copper Project in Peru and, as such, a share the copper concentrate produced.
In this context, the bank stated: "JBIC will continue to actively support the development and interest acquisition of important resources such as minerals by Japanese companies, by drawing on its various financial facilities and schemes for structuring projects, and performing its risk-assuming function."
Overseas investment loans
JBIC provides direct loans named overseas investment loans to Japanese companies, overseas affiliates or joint ventures where Japanese companies hold equity interests and governments or financial institutions partying with such overseas affiliates. Loans support projects in specific sectors or with a specific purpose of interest to Japan. Further information can be found on the Bank’s website under overseas investment loans.
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.