Samsung Wades Into Gold Stream With $20M Debt Package

Law360, New York (September 12, 2012, 8:15 PM EDT) -- West Africa-focused miner Cluff Gold PLC has found an unlikely partner in Samsung Corp., which Wednesday is offering a $20 million package that combines debt and gold purchase agreements and marks the Korean firm's first steps into metals stream financing.

Samsung C&T Corp., the construction and commodities trading arm of the Seoul-based conglomerate, will lend $20 million to pay for ongoing development at Cluff's Baomahun flagship mine in Sierra Leone, the source said. The 22-month loan will be repaid at 2.5 percent above Libor using cash...
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