Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) has announced that it has signed binding loan documentation with a consortium of international banks and two export credit agencies in relation to its previously announced senior secured project finance debt facility of US$346.2M.
The senior debt facility has been executed between Araguaia Niquel Metais LTDA, a wholly owned subsidiary of Horizonte and a syndicate of international financial institutions (BNP Paribas, BNP Paribas Fortis, ING Capital LLC, ING Bank N.V., Natixis, New York Branch, Société Générale and SEK, Swedish Export Credit Corporation) and two export credit agencies (EKF, Denmark’s Export Credit Agency and Finnvera plc, Finland’s Export Credit Agency).
Horizonte CEO, Jeremy Martin commented: “Horizonte is delighted to have completed the final documentation required for the Senior Debt Facility and Cost Overrun Facility for the construction of the Araguaia ferronickel project. The funding process has been complex but, the US$633M funding package is transformational for the company. With a fully funded, tier one project, under construction Horizonte is uniquely positioned with our ability to bring a scalable production profile to the nickel market which is currently facing significant supply challenge.
We would like to thank the Lenders, Orion and La Mancha for their continued support and look forward to reporting on our progress as we finalise key equipment and services contracts and work on site moves towards the start of earthworks for the RKEF processing plant facility in Q2.”
For further information please visit: https://horizonteminerals.com/uk/en/
