I agree that Bank Voratorium are the ones trying to syndicate the deal - however any bank considering being part of the syndicate will go through a DD and credit risk assessment process, and yes potentially even down to site visits at the mine. Coming from someone who has seen exactly that happen in corporate loan syndication.
The fact that they are syndicating at all shows that BV are not willing to hold 100% of the risk on their balance sheet.
FYI - the Brazillian CDI rate is currently 11% so our interest rate will not be 10%.......
AVB Price at posting:
8.7¢ Sentiment: Buy Disclosure: Held
