Altech Chemicals Ltd (ATC.AX) Appoints Macquarie Bank as Mezzanine Debt Arranger
Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that it has officially mandated Macquarie Bank (Macquarie) as the preferred mezzanine lender for its proposed Malaysian high purity alumina (HPA) plant.
Highlights
- Macquarie Bank mandated as preferred Mezzanine lender
- US$90 million indicative mezzanine debt term sheet
On 11 May 2018 Altech announced that it had received an indicative and non-binding mezzanine debt (subordinate to senior debt) term sheet for a facility amount of up to US$90 million. Macquarie subsequently appointed an independent technical advisor to undertake detailed project due diligence, which also takes into consideration the extensive data base of prior due diligence work commissioned by the senior lender German government-owned KfW IPEX-Bank GmbH (KfW IPEX-Bank).
The Company and Macquarie have now reached agreement on mezzanine debt terms and executed a mandate letter, which appoints Macquarie as the exclusive mezzanine debt provider, subject to its usual due diligence processes such as legal, market and technical. Completion of the mezzanine facility by Macquarie is conditional upon its view of all due diligence outcomes and agreement with KfW-IPEX Bank on inter-creditor arrangements.
Corporate Iggy Tan Managing Director Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Shane Volk Company Secretary Altech Chemicals Limited Tel: +61-8-6168-1555 Email: info@altechchemicals.com Investor Relations (Europe) Kai Hoffmann Soar Financial Partners Tel: +49-69-175-548320 Email: hoffmann@soarfinancial.com
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