Salt Lake Potash Limited Senior debt syndication to Sequoia and CBA (1101R)
04 Marzo 2021 - 8:00AM
UK Regulatory
TIDMSO4
RNS Number : 1101R
Salt Lake Potash Limited
04 March 2021
4 March 2021 AIM/ASX Code: SO4
SALT LAKE POTASH LIMITED
-------------------------
Senior debt syndication to Sequoia and CBA
Salt Lake Potash Limited (SO4 or the Company) is pleased to
announce the successful syndication of its US$138m Senior Debt
Facility, with Sequoia Economic Infrastructure Income Fund (SEQI)
and the Commonwealth Bank of Australia (CBA) joining the
facility.
Senior debt syndicated
-- SEQI and CBA will invest US$39m and US$25m respectively into
the facility, complimenting existing investments led and arranged
by Taurus Mining Finance Fund No. 2 L.P (Taurus) and the Australian
Government's Clean Energy Finance Corporation (CEFC).
-- Following the syndication, the Taurus investment will be
reduced to US$35m (from US$91m) and CEFC to US$39m (from US$47m).
The final facility holding structure is as follows:
Institution Facility investment
================================== =====================
Clean Energy Finance Corporation US$39m
Sequoia Economic Infrastructure US$39m
Income Fund
Taurus Mining Finance Fund No. US$35m
2 L.P
Commonwealth Bank of Australia US$25m
---------------------------------- ---------------------
Total US$138m
TONY SWIERICZUK, Chief Executive Officer
"I am extremely pleased to welcome SEQI, an experienced global
debt investor, and leading Australian bank CBA, into our Senior
Debt Facility. The breadth and quality of investors that have been
attracted to this facility is testament to the robust financial
characteristics and positive environmental credentials of the
project and its proficient execution by the SO4 team. We look
forward to continuing our relationship with Sequoia and CBA as we
pursue our vision of a multi-lake SOP province in WA."
About Sequoia
SEQI, advised by Sequoia Investment Management, is a UK based
lender with GBP1.8bn under management. It has been a leader in the
infrastructure sector, transforming it from a lending asset class
to an investment asset class, working closely with investors and
other key counterparties. It is listed on the FTSE 250 Index of the
London Stock Exchange.
About CBA
The Commonwealth Bank of Australia is Australia's leading
provider of integrated financial services, including retail,
premium, business and institutional banking, funds management,
superannuation, insurance, investment and share-broking products
and services.
For further information please visit www.so4.com.au or
contact:
Tony Swiericzuk / Richard Knights Salt Lake Potash Limited Tel: +61 8 6559 5800
Colin Aaronson / Seamus Fricker Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Derrick Lee / Peter Lynch Cenkos Securities plc (Joint Broker) Tel: +44 (0) 131 220 6939
Rupert Fane / Ernest Bell Hannam & Partners (Joint Broker) Tel: +44 (0) 20 7907 8500
This announcement has been authorised for release by the Board
of Directors.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 which is part of UK law by virtue of
the European Union (withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
Forward Looking Statements
This announcement includes forward-looking statements. These
forward-looking statements are based on the Company's expectations
and beliefs concerning future events. Forward-looking statements
are necessarily subject to risks, uncertainties and other factors,
many of which are outside the control of the Company, which could
cause actual results to differ materially from such statements.
Although the Company believes that its forward-looking statements
have reasonable grounds, can give no assurance that they will be
achieved. They may be affected by a variety of variables and
changes in underlying assumptions that are subject to risk factors
associated with the nature of the Company's business (including
those described in pages 11 to 21 (inclusive) of the Prospectus
released to ASX on 11 February 2021), which cause actual results to
differ materially from those expressed herein. The Company makes no
undertaking to subsequently update or revise the forward-looking
statements made in this announcement, save where required by law or
regulation, to reflect the circumstances or events after the date
of this announcement.
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END
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