A São Paulo-based White & Case team advised Aura Minerals in connection with the loan.
Global law firm White & Case has advised gold and copper mining company Aura Minerals on its entrance into a $200 million unsecured syndicated loan facility.
São Paulo-based partners John Guzman and John Anderson led the White & Case team, with support from associate Beatriz Barros.
Citibank Global Markets and Itaú BBA Assessoria Financeira acted as joint lead arrangers and bookrunners for the loan. Aura Minerals intends to use the net proceeds to finance its payments to suppliers and the prepayment of costs relating to the production and sale of its goods.
Aura Minerals CEO and president Rodrigo Barbosa described the loan as “a further step in strengthening Aura’s capital structure and extending [its] financial flexibility” as it works to hit its target of producing more than 600,000 gold-equivalent ounces annually, including through the ongoing construction of Guatemalan gold project Era Dorada and the planned expansion of the Brazilian gold mine Borborema.
“Securing this Loan at a SOFR + 2.70% reflects our operational momentum, robust cash generation and disciplined growth strategy,” Barbosa continued. “At Aura, our approach to capital allocation remains balanced and consistent – combining prudent liability management with continued investment in our growth pipeline, while maintaining the financial discipline that has defined our track record. This transaction further diversifies our funding sources and supports the current phase of value creation for our shareholders under the Aura 360 culture.”