Atome shares fly high on financing deals for Villeta Project

(Alliance News) - Atome PLC on Friday announced the signing of debt financing agreements for its flagship USD650 million Villeta fertiliser plant in Paraguay.

In response, Atome shares were 25% higher at 62.00 pence in London on Friday morning.

The Leeds, England-based green fertiliser project developer, which describes Villeta as a "landmark, 260,000 tonnes-per-year, low-carbon fertiliser plant", said it and its lenders have signed definitive agreements covering Villeta's entire USD420 million debt package.

Atome expects equity agreements, for the remaining USD244 million of funding, to be finalised within 30 days. Subsequently, the company and its partners are "preparing to embark on the construction phase as soon as possible."

It said the debt financing has been agreed with a consortium of development lenders, including the International Finance Corp, European Investment Bank and IDB Invest.

The fifteen-year financing is "on highly competitive terms," and "reflects Villeta's robust project economics, its alignment with food security, climate and employment goals, and Paraguay's newly attained investment grade sovereign status," Atome added.

Chair Peter Levine commented: "We are sincerely grateful to the lenders for their tremendous support for this flagship project which Atome has originated, developed, and is expected by them to continue to manage on behalf of the lending and equity funders.

"This is a significant, world-leading project with clear environmental benefits. Villeta will enable fertiliser to be produced at industrial scale without reliance on fossil fuels, supported by a stable, long-term renewable power supply, which we believe will be a game-changer for the fertiliser sector, particularly in the increasing important South American region."

By Emma Curzon, Alliance News reporter

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