Altech Chemicals Ltd (ASX:ATC) Listed Green Bond Preparations Progressing Well
Highlights
- Preparation progressing well and on track
- HPA project 49% less carbon footprint than conventional HPA
Altech is working closely with London based structuring agent, Bedford Row Capital PLC (Bedford Row) and Bluemount Capital (WA) Pty Ltd (Bluemount) to prepare for a Bond offering. Preparations for the offering commenced in December 2020, and have now progressed to a point where due diligence is complete - including an environmental social governance (ESG) audit; a draft facility agreement is distributed; and a preliminary offering document is being reviewed. Altech is aiming to raise US$144m from the proposed bond issue, of which US$100m will be used as secondary debt for its Johor HPA plant (with US$44m to service bond interest during the HPA plant construction phase - see Figure 1 ). Senior project finance of US$190m is already committed from German government owned KfW IPEX
Altech Chemicals Ltd (ASX:ATC) Quarterly Activities and Cashflow Report
Quarterly Activities and Cashflow ReportPerth, Jan 29, 2021 AEST (ABN Newswire) - During the quarter, Altech Chemicals Ltd (
FRA:A3Y) received a definitive execution program for a listed green bond offering of US$144 million (Bond Structuring and Execution Plan), from its appointed advisers Bluemount Capital (WA) Pty Ltd (Bluemount) and London based partner Bedford Row Capital (Bedford Row). The Altech board has approved the proposed program, and work on preparations for the bond offering commenced in earnest towards the end of the quarter.
As illustrated in Figure 2 in link below, a Special Purpose Vehicle (SPV Co.) would be incorporated and managed by Bedford Row Capital (or its nominee) as the proposed bond Issuer.
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Date
11/01/2021
Bedford Row Capital PLC (“BRC”), a global non-bank structuring specialist, today announces that it has been mandated by Sustainable Capital PLC, for a listed ICMA-compliant green bond offering of USD14.8million and GBP28.1million.
Sustainable Capital (recognised on the NASDAQ Sustainable Bond Network) has issued USD and EUR ICMA-compliant green bonds to finance Energy Storage´s development and construction of thermal clean generation and green power plants for “on-site-of-need” commercial and industrial customers, on a “distributed energy” model in Australia. This power generation operation of Energy Storage offers immediate income potential. Energy Storage has been in R&D with leading Australian universities and government bodies for the last five years and is among the leading thermal long duration energy storage developers globally. Energy Storage considers that its patent library and technology offers the potential of transformational sh
A
Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient: 1. Obtains access to the information in a personal capacity; 2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services; 3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body; 4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;