NAIF are generally subordinate to other debt holders, so it lowers risk (and therefore debt interest-rate charged) to other syndicate members to have a good baseline NAIF tranche.
I was surprised with $250m. The figure has been omitted in recent announcements which I interpreted as QPM negotiating with them. I’m taking the resulting commentary of “with potential debt financial commitment of up to $250m” as meaning we are only getting $250m from NAIF.
On the equity component, we have GM locked in at 18c to bootstrap CR for initial project milestone funding whilst keeping with the likely mandated 60:40 financing split.
NAIF are generally subordinate to other debt holders, so it...
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3.8¢ |
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Mkt cap ! $95.80M | |||
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