RLPC-Anglo American mulls $2 bln loan-bankers
LONDON, March 31 |
LONDON, March 31 (Reuters) - Mining group Anglo American Plc (AAL.L) has sent out a request for proposals to banks for a loan of about $2 billion, three banking sources close to the deal said on Tuesday.
Negotiations are at an early stage, the bankers said.
The mining sector has been hard hit by the global credit crisis, which has seen demand and equity valuations fall. However, copper prices saw an improvement in March.
Banks are already exposed to Anglo American after the company tapped the European syndicated loan market last year for a $4.45 billion loan expiring in 2011, Thomson Reuters LPC data showed.
Anglo American is rated 'A' by Fitch and 'Baa1' by Moody's. (Reporting by Zaida Espana; Editing by Andrew Macdonald)
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