ASX Today, page-38769

0141 GMT - Liontown's new debt package offers "a boost of confidence" for the ailing lithium sector, according to Citi analyst Kate McCutcheon. Liontown has agreed to a A$550 million facility from a syndicate of five lenders. In a note, McCutcheon highlights that the facility is shorter in tenure than the prior A$760 million term sheet and that an additional funding source will likely be needed to repay it by late next year. McCutcheon says she remains positive on Liontown's lithium project, but keeps a sell rating on the stock, which she reckons is overvalued. She points out Liontown has been outperforming peers and expects the lithium market to be oversupplied this year. Citi has a A$1.00 target on the stock, which is up 9.1% at A$1.435/share. ([email protected]; @RhiannonHoyle)

from someone who missed out on the debt syndicate