Altech Chemicals Limited (Altech/the Company) (ASX:ATC) (FRA:A3Y) is pleased to announce that it has officially mandated Macquarie Bank (Macquarie) as the preferred mezzanine lender for its proposed Malaysian high purity alumina (HPA) plant.

Highlights

- Macquarie Bank mandated as preferred Mezzanine lender

- US$90 million indicative mezzanine debt term sheet

On 11 May 2018 Altech announced that it had received an indicative and non-binding mezzanine debt (subordinate to senior debt) term sheet for a facility amount of up to US$90 million. Macquarie subsequently appointed an independent technical advisor to undertake detailed project due diligence, which also takes into consideration the extensive data base of prior due diligence work commissioned by the senior lender German government-owned KfW IPEX-Bank GmbH (KfW IPEX-Bank).

The Company and Macquarie have now reached agreement on mezzanine debt terms and executed a mandate letter, which appoints Macquarie as the exclusive mezzanine debt provider, subject to its usual due diligence processes such as legal, market and technical. Completion of the mezzanine facility by Macquarie is conditional upon its view of all due diligence outcomes and agreement with KfW-IPEX Bank on inter-creditor arrangements.


About Altech Batteries Ltd

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

    

Contact

Corporate
Iggy Tan
Managing Director
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com

Martin Stein
Chief Financial Officer
Altech Batteries Limited
Tel: +61-8-6168-1555
Email: info@altechgroup.com



Link: Altech Appoints Macquarie Bank as Mezzanine Debt Arranger


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