Credit Suisse’s Iron Ore Swaps to Double by End of Year

Credit Suisse Group AG (CSGN:VTX) is happy to announce that they expect its production of iron ore swaps to double until December of 2010. This is due to the project finance given by banks which help junior mining companies to lock in prices.

Credit Suisse Account Executive Phillip Killicoat was quoted saying:

“We have six or seven (projects) in the pipeline (for funding) … that have hedged forward up to six years in order to secure more attractive cost of capital and covenants.’

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