Sandfire Seeks A$380 Million Loan for DeGrussa Mine

Sandfire Resources NL hired Australia & New Zealand Banking Group Ltd. to arrange a A$380 million ($394 million) 4 1/4-year syndicated loan, according to an invitation letter seen by Bloomberg News.

ANZ is underwriting the loan, the document said.

Sandfire will use the the amortizing loan to pay for construction of its DeGrussa copper mine, said a person familiar with the matter, declining to be identified because the details are private.

An amortizing facility is where the principal of the loan is paid in installments over the life of the instrument instead of in full at maturity.

(Corrects type of mine in Oct. 26 story.)
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