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Altech Chemicals Ltd closes in on project financing for Malaysian high purity alumina project

Altech Chemicals Ltd closes in on project financing for Malaysian high purity alumina project
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Altech Chemicals Ltd (ASX:ATC) Update of High Purity Alumina Project - ABN Newswire (@ABN_Newswire)

Altech Chemicals Ltd (ASX:ATC) HPA Project Finance Update - ABN Newswire (@ABN_Newswire)

Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is pleased to provide an update on the proposed ~US$144 million listed green bond offering and additional project equity, which in combination would provide the balance of funds required for the recommencement of construction of its Malaysian high purity alumina (HPA) project.

Altech Chemicals Ltd (ASX:ATC) Listed Green Bonds at Final Preparation Stage

Altech Chemicals Ltd (ASX:ATC) Listed Green Bonds at Final Preparation Stage    Listed Green Bonds at Final Preparation StagePerth, July 28, 2021 AEST (ABN Newswire) - Altech Chemicals Limited ( FRA:A3Y) is pleased to advise that preparations for its proposed listed green bond offering of ~US$144 million, to provide additional financing for its Malaysian high purity alumina (HPA) project, are in the final stages. Altech has been working with London based structuring agent, Bedford Row Capital PLC (Bedford Row) and Bluemount Capital (WA) Pty Ltd (Bluemount) to prepare for the green bond offering. Extensive due diligence has been completed, including financial, legal and environmental social governance. Legal counsels from various jurisdictions have now completed their respective reviews of documentation, and the bond issue process will shortly move from the preparation phase to marketing and finally initiation.

Altech Chemicals Ltd (ASX:ATC) Listed Green Bond Preparations Progressing Well

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

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