Global Private Group Announces Signing of Project Financing Commitment Letter
Global Private Group is pleased to announce that it has signed a Commitment Letter under which Global Private Group is going to act as lead arranger of up to a US$1 Billion senior debt financing facility.
Online, September 22, 2013 (Newswire.com) - Global Private Group Announces Signing of Project Financing Commitment Letter
Global Private Group is pleased to announce that it has signed a Commitment Letter under which Global Private Group is going to act as lead arranger of up to a US$1 Billion senior debt financing facility (the "Global Senior Debt Facility") to complete the construction and start-up of Major Iron Ore Project.
The Global Private Group Commitment Letter does constitute a commitment to provide financing.
"The signing of the Commitment Letter with Global Private Group represents a significant step forward towards fully completing the construction of the Iron Ore Project," said Developer's Executive Chairman. "We expect our financing strategy to provide maximum flexibility for us to achieve its US$1 Billion debt financing target. Developer's Executive Chairman also expects that Global Private Group will provide them with valuable Project Management Tools.
"We are pleased to be working with the Global Private Group's Team to bring the Iron Ore Project into production. The combination of the proven financial capability of Global Private Group, coupled with the high quality project team currently at work on the Project gives us great confidence that this project will be developed in an environmentally and socially responsible manner.
As one of the world's leading and most diverse financial services firm, Global Private Group serves the needs of our clients by offering a world-class project funding platform coupled with straightforward, intelligent advice. We attribute our long-term success to our commitment of always putting clients' interests first; whether it's raising capital for new ventures or to meet growth objectives for expanding businesses.
Global Private Group also offers wealth management, capital markets, going public, mergers and acquisition, restructuring, risk and research platform of unrivalled strength and scale.