Altech Managing Director, Iggy Tan, signing the construction contract with Kuttner Managing Director Jan Meier-Kortwig. Source: Altech
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  • Altech Chemicals (ATC) advances project financing activities for its Malaysia high-purity alumina (HPA) project
  • The company confirmed Germany-based KfW IPEX-Bank’s commitment to a senior loan facility of US$190 million (A$273 million)
  • In addition, ATC progresses discussions to finalise a US$144 million green bond offering with Bedford Row Capital and Bluemount Capital
  • The company says it has faced recent headwinds in securing project financing due to current “challenging” conditions in equity and financial markets
  • Altech shares close 1.54 per cent lower at 6.4 cents per share

Altech Chemicals (ATC) has advanced project financing activities for its Malaysia high-purity alumina (HPA) project.

Following a trip to Europe by company management, Altech has confirmed that Germany-based KfW IPEX-Bank remains committed to the project and a senior loan facility of US$190 million (A$273 million).

It also said Euler Hermes, the German government export credit agency, has renewed a US$170 million export credit cover for the KfW IPEX Bank senior loan facility.

In addition, ATC progressed discussions to finalise a US$144 million green bond offering with London-based Bedford Row Capital and Perth-based Bluemount Capital.

Furthermore, Altech is working to secure commitments for a project equity investment of US$100 million.

The company acknowledged it had faced recent headwinds in securing project financing due to current “challenging” conditions in equity and financial markets.

Meanwhile, it has met with SMS group GmbH to restart work on the HPA project.

The HPA project is in “sound condition”, with regular site maintenance work undertaken.

Altech shares closed 1.54 per cent lower at 6.4 cents per share.

ATC by the numbers
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