Clifford Chance has guided a lender consortium on USD1 billion in financing for mining group Glencore to support copper exports into South Korea.
The consortium included the Export-Import Bank of Korea (KEXIM), KEXIM Global (Singapore), KEXIM Asia, the London branch of JPMorgan Chase Bank and Banco Santander.
Bloomberg said the loan would be given to Switzerland-based Glencore International, a wholly owned subsidiary of Glencore, with the funds earmarked for general working capital purposes.
The Clifford Chance team was led by partners Nicholas Wong and Nicolas Cookson, with support from senior associate Giuseppe Chiaula and associate Namrata Pandit.
Bloomberg said Glencore would supply copper to South Korean companies as the jurisdiction moved to secure raw materials required for the vast growth of AI.