Repayment of syndicated loan

RNS Number : 5102A

Hochschild Mining PLC

02 February 2011

 



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2 February 2011

Repayment of existing syndicated loan of US$114.3m

Hochschild Mining plc ("Hochschild" or "the Company") announces that it has repaid its entire existing syndicated loan facility of US$114.3m.

The loan facility was arranged with a syndicate of lenders with JP Morgan Chase Bank N.A. acting as the Administrative Agent. During 2009, the Company also signed a swap contract with BBVA and Citibank to fix the interest rate and therefore with the repayment of the loan facility, Hochschild has also negotiated to cancel the swap contract at a cost of US$1.7m.

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Enquiries

Hochschild Mining plc

Charles Gordon                                                                                    [phone]

Head of Investor Relations

Finsbury

Faeth Birch                                                                                          [phone]

Public Relations 

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About Hochschild Mining plc

Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over forty years' experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru, one in southern Argentina and one open pit mine in northern Mexico. Hochschild also has numerous long-term prospects throughout the Americas.

 

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