Has anyone seen this today? I'm not suggesting CYM will obtain a...

Has anyone seen this today? I'm not suggesting CYM will obtain a deal like this but just shows what is possible. This looks like a good finance deal.

Joint venture company, POSCO Pilbara Lithium Solution Co Ltd (the POSCO Pilbara JV Company or Joint Venture) has executed a KRW600 billion (US$460M) debt facility with Korean government-owned banks.

The debt facility, which has a 7-year term and repayments commencing two years from drawdown, comprises both a fixed and variable interest rate with tranche A (50% of the Loan Amount) fixed and tranche B (50% of the Loan Amount) variable.

Each JV participant has already contributed their share of equity funding, with Pilbara Minerals’ initial 18% equity participation (with an option to increase to 30%) funded through the previously announced A$79.6M 5-year Convertible Bond Agreement provided by POSCO (see ASX announcement: 28th February 2018).

Even if CYM sign a crappy finance deal to get going they could refinance and obtain a better deal later on down the track.