Ann: Mount Peake Project Finance Update, page-22

Totally understand the skepticism @abishai and agree that whoever writes the Announcements is usually ambiguous or vague
However as noticed before and piecing together a few earlier statements, e.g.:

14 Dec 2020
Under the Mandate, KfW is responsible for structuring, coordinating, leading, arranging and managing syndicationfor the targeted debt raising to underpin the Project’s financing package. KfW will also advise TNG on how tomaximise, to the greatest extent possible, cover instruments available from export credit agencies.

Today
Together with the existing commercial debt funding strategy being led by KfW and the recently announcedconditional Letter of Support received from Export Finance Australia for debt funding of up to A$300 million, thisshows that our funding strategy for Mount Peake is gathering momentum in line with our strategic plans. Currentlythis equates to A$600M of government related condition funding interest which is a significant contribution to ourfunding needs.

Today's announcement is simply related to Euler Hermes (government) funding, while KfW is also still helping to syndicate and manage commercial debt funding and it should not mean that their mandate is concluded with the $300M announced today

It could end up being something like:
$300M AUD - AU Fed Govt, (ECA >> Clough)
$300M AUD - DE Govt (HE/KfW >> SMS)
$xM - NAIF
$xM - Commercial Debt (7 institutions? + KfW involvement)
$xM - Mezzanine Finance
$xM - Equity