Thanks for sharing @chokdee.
Here's a version in laymans terms simplified by ChatGPT.
Equity and Debt Plans: The company aims to raise $713 million in equity to achieve a 50-50 balance between equity and debt. They also plan to remove $417 million in debt and a $200 million standby liquidity facility. If they don't reach the $713 million target, they have a safety net with the existing debt facilities.
Product Availability: There's still 1530 tonnes of product available. They might reduce the amount reserved for the spot market from 20% to 15% or 10% over the first five years if needed to secure the $713 million. This adjustment is important since they are already in advanced discussions for 2815 tonnes with the EU and US, and 1925 tonnes with Asia and the EU. The remaining product and any additional adjustments offer flexibility for securing substantial equity investments.
Flexibility and Scenarios: If they get the full $713 million, it will dilute shares but also reduce debt by $717 million, leaving around $350-400 million in debt and allowing cash flow to be used for expansion rather than debt payments. If they secure less, say $513 million or even $300 million, they can still proceed with the project and revisit the market for additional funding in 5 years. The favorable debt terms provide flexibility to move forward with construction based on equity raised.
In essence, the post highlights the company's flexible approach to funding, emphasizing the importance of the substantial debt facility and the strategic options available to them even if they fall short of their equity target.
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Thanks for sharing @chokdee.Here's a version in laymans terms...
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