Atlas Iron Said to Meet with Lenders on $325 Million Term Loan
Atlas Iron Ltd. (AGO) will meet with lenders on Nov. 14 in New York to discuss a $325 million term loan the company is seeking for general corporate purposes, according to a person with knowledge of the transaction.
Credit Suisse Group AG is arranging the five-year financing for the Australian iron ore producer and will also hold a conference call tomorrow to review the transaction, the person said, who asked not to be identified because the information is private.
Lenders are being offered call protection of 102 cents during the first year, the person said. The premium to refinance the debt will drop to 1 cent more than face value in the second year.
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