Atome reports positive progress on Villeta Project finance process
Published by Emilie Grant,
Editorial Assistant
World Fertilizer,
ATOME has reported material progress with the ongoing project finance processes for Villeta which is being conducted by the company’s international financial advisers.
After substantive discussions and presentations, an encouraging number of written detailed non-binding offers (NBOs) have now been received in respect of each of the equity and debt project finance portions from international entities including multi-laterals, commercial banks, strategic investors and specialised investment funds.
The debt portion of the funding, as anticipated, is substantially oversubscribed on the basis of these NBOs. Furthermore, there has been a positive response to the equity portion from credible, international parties with equity funding interest being shown in ATOME’s wider portfolio of projects, alongside Villeta.
The company aims to start work by next year. The next stage is to analyse and shortlist the proposals before moving to mandate the lead debt arrangers and select the preferred equity partners. As is normal in such processes, the company reminds shareholders that there is no certainty or guarantee as to timing at this stage nor that any of the proposals received will ultimately progress to completion.
In the meantime, the company’s preferred EPC (engineering, procurement, and construction) contractors are working on final costings for the construction of the Villeta Project which are expected to be received next month. The company’s estimate of these costings has, however, already been considered and reflected in the NBOs received.
Read the article online at: https://www.worldfertilizer.com/project-news/02102024/atome-reports-positive-progress-on-villeta-project-finance-process/
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