Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

U.S. Ex-Im Bank Votes to Support $694 Million Loan for Roy Hill

Don't Miss Out —
Follow us on:

Nov. 14 (Bloomberg) -- The board of the U.S. Export-Import Bank, an independent federal lending agency, gave preliminary approval for $694 million in financing for billionaire Gina Rinehart’s Roy Hill iron ore project in Australia.

The vote by the lender’s board today will support the purchase of mining equipment from U.S. companies including Caterpillar Inc. and General Electric Co., Daniel Reilly, a bank spokesman, said in an e-mailed statement.

Rinehart, Asia’s richest woman, is seeking A$7 billion ($6.5 billion) of debt from banks and export credit agencies to help build the A$10 billion iron-ore mining venture in Western Australia’s Pilbara region, comprising a mine, rail and port operations. Roy Hill expects to conclude financing talks for the debt package by the end of the year.

To contact the reporters on this story: Simon Casey in New York at scasey4@bloomberg.net; Elisabeth Behrmann in Sydney at ebehrmann1@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.