Horizonte Minerals PLC - nickel company focused on Brazil - Gains credit approval from a syndicate of international financial institutions for a senior secured project finance facility of up to USD346.2 million, which will go towards funding the construction and development of its Araguaia ferro-nickel project.
The senior lenders are BNP Paribas Securities Corp, ING Capital LLC, Natixis, Societe Generale, and Swedish Export Credit Corp.
The term of the senior debt facility will be ten and a half years for tranche A of USD146.2 million, and eight and a half years for tranche B of USD200 million.
"I am delighted to announce the receipt of these final credit approvals from five leading international financial institutions. The Horizonte team and our advisors have worked over the past 18 months to reach this point. Coupled with the two export credit agencies, this syndicate of seven provides a USD346.2 million senior debt facility to help finance the construction of Araguaia," said Chief Executive Officer Jeremy Martin.
Current stock price: 8.05 pence, down 6.1% on Friday
Year-to-date change: up 9.5%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Horizonte Minerals (HZM)