News and Announcements
Altech Chemicals Project Funding Update
- Published November 19, 2015 12:29PM UTC
- Publisher Wholesale Investor
- Categories Company Updates
19th November 2o15, ASX Announcement
Highlights:
- Letter of Interest (LOI) for project financing received from German bank
- ECA: Interest in senior-debt project financing utilising German export credit insurance cover
- Highly experienced international project and export finance specialist
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) is pleased to provide an update on the progress of financing activities for its proposed high purity alumina project (HPA Project).
Following a series of meetings, a major German bank has submitted a Letter of Interest (LOI), expressing its interest to arrange senior-debt project financing for the Company’s HPA Project. The LOI contemplates senior-debt project financing that will maximise the use of export credit insurance cover under the German federal government backed project finance federal export guarantees.
The bank is a leading German export and project finance specialist with experience in the debt financing of mining and chemical projects worldwide, also in the Asia-Pacific region and projects similar to Altech’s proposed HPA Project.
To read the full announcement, please click here.