EQS-Adhoc: Vulcan Energy Resources Limited: EUR 879 million conditional debt commitment letter signed for Phase One funding process

EQS-Ad-hoc: Vulcan Energy Resources Limited / Key word(s): Financing/Banking Syndicate
Vulcan Energy Resources Limited: EUR 879 million conditional debt commitment letter signed for Phase One funding process

17-Dec-2024 / 17:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


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.
Archive at www.eqs-news.com


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

2052787  17-Dec-2024 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=2052787&application_name=news&site_id=benzinga~~~8eb7e128-c3ed-4017-a7d6-2b04218e4b99
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!