News and Announcements
Altech HPA Project Update: $US60m of Debt Funding for its Proposed HPA Project
- Published March 23, 2016 10:33AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
22nd March 2016, ASX Announcement
Highlights:
- Altech estimates ~$US60m of debt funding for its proposed high purity alumina (HPA) project
- German government-owned KfW IPEX-Bank GmbH mandated
- Application for ~US$40m of German government export credit agency (ECA) cover
- ECA cover application within the quarter
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) is pleased to provide an update on the debt funding activities for its high purity alumina (HPA) project following a meeting with KfW IPEX-Bank in Stuttgart, Germany on 17 March 2016.
Altech currently estimates that its proposed HPA project will support approximately US$60 million of debt. To provide structuring and financing services in relation to the provision of senior debt funding the Company has mandated German government-owned bank KfW IPEX-Bank Gmbh (KfW IPEX-Bank). Altech has been working closely with KfW IPEX-Bank since January 2016 as part of the bank’s comprehensive due diligence of the Company and the project.
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