McEwen Copper hires Societe Generale for Los Azules debt financing

McEwen Copper Inc. has appointed Societe Generale as its financial advisor for project debt financing of the Los Azules copper project in San Juan Province, Argentina, according to a company statement.

Under the mandate, Societe Generale will structure and arrange a senior debt package to fund construction of the project. The bank's responsibilities include developing financing strategy, coordinating lenders' due diligence processes, preparing information packages, and assisting with negotiations.

The financing package is expected to combine export credit agency facilities, commercial bank debt, multilateral and development finance institution facilities, and potential project bonds or other capital market instruments.

The appointment complements McEwen Copper's existing collaboration agreement with the International Finance Corporation, a World Bank Group member, to align the project with environmental, social and governance standards for international project financing. The project will be developed according to the Equator Principles.

"Bringing Societe Generale on board marks a significant step in advancing Los Azules toward construction," said Michael Meding, Managing Director of McEwen Copper. "Societe Generale's global project finance platform and long-standing relationships with the export credit agency, multilateral and commercial banking community make them an ideal partner to help us assemble a robust, competitively priced debt package for one of the world's largest undeveloped copper projects."

McEwen Copper is 46.3% owned by McEwen Inc. (NYSE: MUX). The Los Azules project is described as an advanced-stage copper development project in Argentina.

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