CPPIB Provides Financing for Emerging Gold Producer
Globally, the mining sector in general is suffering a crisis of confidence as commodity investment inflows shrink below a 2012 peak. Many mining companies are in dire need of capital. Rubicon Minerals Corporation, an emerging gold producer, entered into a financing agreement with CPPIB Credit Investments Inc., a unit of Canada Pension Plan Investment Board (CPPIB), for a US$ 50 million secured loan facility that bears an annual cash interest rate of 7.5%, compounded quarterly. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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