Ivanhoe Electric Secures $200 Million Bridge Loan for Santa Cruz Copper Project
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Ivanhoe Electric Inc. has secured a $200 million bridge loan through its subsidiary, Mesa Cobre Holding Corporation, to support the Santa Cruz Copper Project in Arizona. The loan, arranged with a banking syndicate, provides near-term liquidity and is secured by private land holdings and project assets. It features an interest rate based on the three-month Secured Overnight Financing Rate plus a 5.0% margin, increasing by 0.5% every six months. This financing complements efforts to secure long-term project financing, including a potential $825 million loan from the U.S. Export-Import Bank.
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