EUR 879 million conditional debt commitment letter signed for Phase One funding process
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EQS-Ad-hoc: Vulcan Energy Resources Limited / Key word(s): Financing/Banking Syndicate Ad-hoc Notice: Disclosure of an inside information acc. to Article 17(1) MAR
EUR 879 million conditional debt commitment letter signed for Phase One funding process Today, a wholly owned indirect subsidiary of Vulcan Energy Resources Limited, Perth, Australia (ISIN AU0000066086) (the "Company" and, together with its subsidiaries, "Vulcan Group") has received a conditional commitment letter from a number of institutions (including Export Finance Australia and commercial banks) covering a debt financing amount of EUR 879 million as a major milestone to complement the ongoing Phase One Project funding process. The Phase One Project is targeting the production of 24,000 tonnes per annum of Lithium Hydroxide Monohydrate (LHM), equivalent to approximately 500,000 EVs. All debt facilities and credit approvals remain conditional at this stage, including completion of due diligence, final credit committees and boards approvals, execution of the full form legal documentation, and other conditions precedent. This conditional commitment follows approval received from European Investment Bank’s (EIB) Board to participate in the Project up to a EUR 500 million lending envelope (including targeting up to EUR 250 million direct lending). Vulcan Group is seeking additional approvals from Export Development Canada (EDC), Bpifrance AE and the Italian export credit agency (SACE) to participate in the debt financing, to reach a target total debt package commitment of approximately EUR 1.5 to 1.6 billion in the first half of 2025. End of Inside Information
17-Dec-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
| Language: | English |
| Company: | Vulcan Energy Resources Limited |
| Unit 1, Level 11, 1 Spring Street | |
| WA 6000 Perth | |
| Australia | |
| E-mail: | dtydde@v-er.eu |
| Internet: | www.v-er.eu |
| ISIN: | AU0000066086 |
| WKN: | A2PV3A |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 2052787 |
| End of Announcement | EQS News Service |
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2052787 17-Dec-2024 CET/CEST
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