Reuters reported that Freeport-McMoran Copper & Gold Inc has announced that it has secured $7 billion in debt financing to help support its move into the energy space.
As quoted in the market report:
Freeport, faced with a lack of high-quality new copper deposits, agreed in December to buy Plains Exploration & Production Co and McMoRan Exploration Co in a bid to diversify into the U.S. energy sector. The deals, worth a combined $9 billion, are expected to close in the second quarter of 2013.
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