News and Announcements
Altech Chemicals (ASX: ATC) establishes exclusive mandate with Macquarie Bank for US$90M Mezzanine Debt
- Published May 02, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Highlights
- Stage 1 Construction at Johorsees is progressing with the site office, security post and safety systems established.
- An exclusive Mandate with Macquarie Bank for US$90 million Mezzanine Debt has been established after an extensive review as well as a successful inaugural investor site visit to observe Stage 1 HPA plant construction progress.
- The transition to HPA coated battery separators has seen a 47% increase in quarterly sales volumes and establishment as the leading Korean supplier of HPA coated battery separators.
Altech Chemicals Limited (ASX:) is a supplier of 99.99% (4N) high purity alumina (HPA) (Al2O3). They present their quarterly activities report as follows:
Stage 1 Construction at Johorsees is progressing with the site office, security post and safety systems established. Bulk earthworks, foundation piling, and retaining walls have been established and steel for the workshop obtained.
An exclusive Mandate with Macquarie Bank for US$90 million Mezzanine Debt has been established after an extensive review, with legal due diligence and financial modelling underway.
The transition to HPA coated battery separators has been clearly established with a 47% increase in quarterly sales volumes and establishment as the leading Korean supplier of HPA coated battery separators.
Altech conducted a successful inaugural investor site visit to observe Stage 1 HPA plant construction progress and Capital Raising of A$18 million to support Stage 2 construction is underway. An Environmental and Social Management System (ESMS) has been implemented and policies and procedures put in place.
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