Vale-BHP Venture Samarco Authorized by Judge to Take DIP Finance

July 27, 2021, 9:59 PM

Samarco Mineracao SA, an iron-ore producer jointly owned by Vale SA and BHP Group, was allowed by a Brazil court to take a loan to finance its operations.

The company must choose the best financial offer and the loan can’t be used to pay for repairs of its deadly dam rupture, a judge said in a court decision Tuesday. Samarco will ask market players for proposals and may go to court to question the decision on how to use the proceeds, according to a person familiar with the matter, who asked not to be named because the matter ...

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