Export Finance Australia has also obtained conditional credit approval to provide a AUS$45 million senior debt facility.
Australian Potash Managing Director and CEO, Matt Shackleton, said: “APC is firmly committed to an environmentally sustainable development at Lake Wells, where we will produce high-grade SOP using a high Renewable Energy Penetration rate hybrid-power solution.
“Green Loan verification provides assurance to our lenders and broader stakeholder group that we will honour this commitment, adopting a governance and reporting framework in line with Green Loan Principles.
“It is very satisfying to have our efforts in this regard recognised, and to be able to pass on this third party assurance to our lenders, as we move rapidly towards development of the LSOP.”
Export Finance Australia has completed initial due diligence on providing a senior debt facility to develop Lake Wells and has obtained conditional credit approval for a AUS$45 million senior debt facility with a 10-year tenor. The provision of any debt facility will be subject to formal documentation and the satisfaction of conditions precedent for a facility of this nature.
Documentation of the senior debt facility (comprising the NAIF facility, the Export Finance Australia facility, and the commercial bank facility) is expected to be completed mid-2021.
Read the latest issue of World Fertilizer in full for free: April 2021
The April 2021 issue of World Fertilizer begins with a regional report on Latin America’s fertilizer industry. The remainder of the issue is dedicated to a range of technical articles covering ammonia, blending and bagging, plant design, fertilizer cargo measurement and fertilizer storage. Our World Review of fertilizer projects in Africa and the Middle East, Asia Pacific, Europe and CIS and the Americas rounds off the issue.
Read the article online at: https://www.worldfertilizer.com/project-news/19042021/australian-potash-receives-green-loan-verification/