As per previous post in another thread:Preliminary Project...

As per previous post in another thread:

Preliminary Project Letter (Phase I). Upon satisfactory completion of the phase I evaluation process, the Structured Finance Division will issue a Preliminary Project Letter within 45 days from the date evaluation begins by the financial advisor. The PPL will indicate if EXIM Bank is prepared to move forward on a financing offer and the corresponding general terms and conditions based upon the information available at the time of application.

Evaluation Post-PPL (Phase II). After issuance of the PPL, EXIM Bank will work with the applicant to proceed to a Final Commitment. Please note that EXIM Bank does not issue Preliminary Commitments for project finance transactions. EXIM Bank will continue to utilize the financial advisor for Phase II of the due diligence process.

This text is directly from EXIM's website. 45 days starts from start of DD. 402(A) is a separate thing entirely, but it could mean the original proposal of about $250M USD in loan is out the window. At this point from further reading EXIM is updating the terms, not only in line with the 402(A) decision but any extra information IBG has provided to them during Phase 1, they may or may not offer more money as a result of the DD, with 402(A) they may offer lower rates, lower fees, longer terms or other incentives as IBG have said in their release on the 402(A) decision, I don't think IBG's list is exhaustive as it would be subject to internal EXIM policy.

As an example we may expect a 20 year loan with a significant discount to the regular interest rate funding $350M primarily on the US content of CAPEX, but with a lower amount of US content making up that CAPEX.

I've done a lot of reading to determine more specifically what we could expect with 402(A), there's a lot of very hefty legal documents around EXIM where it's shovelled into massive documents including everything US Government, so my interpretation of it is developing as time goes on.