Banks reportedly forged ahead this week with syndication of a $12.5B loan package backing...

|By:, SA News Editor

Banks reportedly forged ahead this week with syndication of a $12.5B loan package backing Freeport McMoran's (FCX +4%) two recent acquisitions despite growing shareholder concerns. Bankers are mostly shrugging off the transaction risk due to FCX's strong risk profile; net debt to EBITDA is -0.03x and will move up to only 1.9x under the terms of the transaction.