Good to hear finally about the non-government portion of the debt syndicate.
Seven term sheets from commercial institutions.
Napkin guestimate of a paltry 30M each (say 40 residential houses) would add 200M in total?
1.6B+ would still be around 80% debt; ripper!
My first thought though seeing the announcement heading was K-SURE - finally!
But computer says no.
K-SURE provided conditional finance support in Apr-22, and have an MOU with EFA to work together and undertake joint financings. The ASX announcement had these two relevant statements:
So sure-ly we have another $250M+ waiting in the wings???!!!
From what I've read, the SK government is not being shy when coming to support its battery makers:
https://www.reuters.com/business/autos-transportation/south-korea-offer-53-bln-financing-support-battery-investment-north-america-2023-04-07/
https://www.reuters.com/world/asia-pacific/south-korea-announces-15-bln-investment-advanced-battery-technologies-2023-04-20/
But if that option is a duster, the commercial syndicate is great risk management, and today's announcement is very good news regardless
Ann: Debt Finance Update, page-17
Add QPM (ASX) to my watchlist
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