R/€ = 19.21 Change: -0.06
R/$ = 16.96 Change: 0.04
Au 1784.50 $/oz Change: 9.20
Pt 817.00 $/oz Change: 1.95
 
 
R/€ = 19.21 Change: -0.06
R/$ = 16.96 Change: 0.04
Au 1784.50 $/oz Change: 9.20
Pt 817.00 $/oz Change: 1.95
 
 
BACK

Sigma announces term sheet for $45m project facility

30th June 2020 BY: Creamer Media Reporter

TSX-V-listed Sigma Lithium has signed a term sheet for a $45-million senior secured project finance facility to be led by Societe Generale.

The bank project finance facility will be used for the construction and development of the company’s Grota do Cirilo lithium project in Minas Gerais, Brazil.

Advertisement

Sigma expects being construction-ready in the fourth quarter.

The bank project finance facility is expected to comprise the majority of the funding required for the construction of the project, currently estimated to be $74-million.

Advertisement

The facility contemplates a six-year term and a borrowing rate of Libor plus 5%, declining to Libor plus 4.5% after the project reaches completion.

The bank project facility will be complemented with the $27-million that remains to be disbursed under a production pre-payment facility with Mitsui & Co and about $10-million in an equity contribution to satisfy the bank facility’s total funding requirements. 

EDITED BY: Mariaan Webb Creamer Media Deputy Editor Online
EMAIL THIS ARTICLE SAVE THIS ARTICLE ARTICLE ENQUIRY
Advertisement
 
 
Prev Next