Davis Polk advised Freeport-McMoRan Inc. (“FCX”), PT Freeport Indonesia (“PTFI”), a subsidiary of FCX, and Freeport-McMoRan Oil & Gas LLC (“FM O&G”) in connection with a $3.5 billion five-year syndicated senior unsecured revolving credit facility, agented by JPMorgan Chase Bank, N.A. the revolving credit facility replaces FCX’s existing revolving credit agreement dated as of February 14, 2013 (as amended, modified, supplemented, or amended and restated), among FCX, PTFI, FM O&G and JPMorgan, as administrative agent.
FCX is a leading international mining company with headquarters in Phoenix, Arizona. FCX operates large, long-lived geographically diverse assets with significant proven and probable reserves of copper, gold and molybdenum, and is the world’s largest publicly traded copper producer. FCX’s portfolio of assets includes the Grasberg minerals district in Indonesia, one of the world’s largest copper and gold deposits; and significant mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde operation in South America.
The Davis Polk credit team included partner Lawrence E. Wieman and associates Yitz Segal and William Son. Partner Antonio J. Perez-Marques provided corporate governance advice. Partner David H. Schnabel and associate James Manzione provided tax advice. Associate Britt Mosman provided regulatory advice. Counsel Ann Becchina provided executive compensation advice. Associate Jennifer Lin Ricci provided Investment Company Act of 1940 advice. Members of the Davis Polk team are based in the New York and Washington DC offices.