Skip to main content

Sirius Minerals receives alternative financing proposal

Published by , Editor
World Fertilizer,

Sirius Minerals Plc., the developer of the Woodsmith Mine polyhalite project in Yorkshire, UK, has received a conditional proposal from a major global financial institution in respect of its stage 2 financing (the “Alternative Proposal”).

The company has been pursuing a senior debt financing with a group of prospective lenders since 2016. This was most recently adjusted on 22 January 2019 to focus on a US$3 billion multi-tranche structure. The Alternative Proposal contains an alternative senior debt structure to completely replace that structure.

The company believes that the Alternative Proposal potentially offers a more flexible and attractive solution to its stage 2 financing requirements and therefore it is pausing discussions with its existing prospective lenders to pursue the Alternative Proposal.

A number of options for the additional non-senior debt financing requirement, as previously outlined in the company’s announcement of 6 September 2018, continue to be progressed.

The company is working towards obtaining firm commitments for the Alternative Proposal and its additional financing requirements before the end of April 2019. The Alternative Proposal is subject to the finalisation of the Financial Institution’s due diligence and internal approvals.

Read the article online at:

You might also like


Ready to revolutionise the cement industry?

Join our sister publication, World Cement, in Lisbon, 10 – 13 March 2024, for their first in-person conference and exhibition: EnviroTech.

This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.

Get your early bird tickets NOW »


Embed article link: (copy the HTML code below):


This article has been tagged under the following:

Fertilizer project news