Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Altech Chemicals makes further progress towards securing mezzanine debt facility

Proactive Investors Tuesday, 19 February 2019
Altech Chemicals Ltd’s (ASX:ATC) (FRA:A3Y) proposed mezzanine debt provider has completed its assessment of the independent technical advisor’s report that it commissioned on Altech’s high purity alumina (HPA) project in Malaysia. The provider has also notified Altech that it now plans to proceed towards preparation for the internal approval process of the proposed mezzanine debt facility. READ: Altech Chemicals positive technical report progresses debt The proposed mezzanine lender, a global investment bank, has advised Altech that the path to internal approval will include the satisfactory completion of an independent HPA market report, an independent legal due diligence report, internal financial modelling and inter-creditor discussions with the senior lender – German government-owned KfW IPEX-Bank. Altech noted that the steps outlined above can be largely conducted concurrently. READ: Altech Chemicals begins site establishment work at Malaysian HPA plant Altech managing director Iggy Tan said: “Achieving the go-ahead to proceed towards the process for the internal approval of a mezzanine debt facility is another important milestone for the company. “Although the rigour of the recently completed technical project review extended the anticipated timeframe for the work, this has not impacted on activities at the company’s Johor HPA site where stage 1 construction has commenced, and the required project development order has been issued. “We have not lost any time or momentum waiting for a mezzanine project finance facility to be concluded.”
Credit: Wibbitz Studio - Published < > Embed
News video: Number of Americans in Car Loan Debt Skyrockets

▶ Number of Americans in Car Loan Debt Skyrockets 00:57

Number of Americans in Car Loan Debt Skyrockets The New York Federal Reserve says that seven million Americans owed payments at the end of last year. That's up from 6 million in 2010. This means that there are currently more people in debt than after the last financial crisis. In terms of total auto...

Recent related videos from verified sources

How to take action on a debt you do not owe [Video]How to take action on a debt you do not owe

Are you getting harassed for a debt that you do not owe? Well, there may be a few things that you can do to get the calls to stop.

Credit: TODAY’S TMJ4     Duration: 02:12Published

U.S. Consumer Debt Surpasses a Record $4 Trillion, but Economists Don't Mind [Video]U.S. Consumer Debt Surpasses a Record $4 Trillion, but Economists Don't Mind

Consumer debt in the U.S. reached a major milestone at the end of last year, surpassing $4 trillion. The debt, which does not include home mortgages, was increased primarily by spikes in student loans,..

Credit: Cheddar Inc.     Duration: 02:12Published

The United States Just Officially Hit The 22 Trillion Dollar Debt Ceiling [Video]The United States Just Officially Hit The 22 Trillion Dollar Debt Ceiling

According to a report by Business Insider, on Saturday, the United States officially hit the debt ceiling, capping the national debt at just over 22 trillion dollars. While the deadline to raise the..

Credit: Wochit News     Duration: 00:39Published

Consumer Reports: Marriage and student debt [Video]Consumer Reports: Marriage and student debt

About 60% of recent college graduates have an average of $28,500 in debt each. For those thinking about marrying, figuring out how to manage those loans can get complicated. Consumer Reports reveals..

Credit: KGUN, Tucson, AZ     Duration: 02:05Published

Teva Pharmaceuticals CEO Talks 'Trough Year', 2020 Turnaround [Video]Teva Pharmaceuticals CEO Talks "Trough Year", 2020 Turnaround

Teva Pharmaceuticals is anticipating a trough for 2019, but apropos of the company's name, this is a natural development in the company's restructuring according to CEO Kare Schultz. The Israel-based..

Credit: The Street     Duration: 04:29Published

Chinese Consumer Debt Threatens Growth, Stability [Video]Chinese Consumer Debt Threatens Growth, Stability

With China's seemingly endless economic boom, household debt there has been rising over the past decade. But economists at the Federal Reserve Bank of New York says that debt could put growth and..

Credit: Wochit Business     Duration: 01:04Published

U.S. National Debt Just Topped $22 Trillion [Video]U.S. National Debt Just Topped $22 Trillion

On Monday according to the U.S. Treasury department, the US national debt topped $22 trillion for the first time in history. Business Insider reports that the record follows a year where the budget..

Credit: Wochit News     Duration: 00:45Published

American Debt Load Has Reached Another Record [Video]American Debt Load Has Reached Another Record

In the fourth quarter of 2018, the overall debt shouldered by Americans edged up to a record $13.5 trillion. This is according to the U.S. household debt and credit report, published by the Federal..

Credit: Wochit     Duration: 00:33Published

Americans Commit 91 Financial Fails A Year [Video]Americans Commit 91 Financial Fails A Year

From not saving enough money (38 percent) to getting takeout instead of cooking (32 percent) or spending more than they should (29 percent), the average American commits 91 "financial fails" per year...

Credit: SWNS STUDIO     Duration: 01:10Published

Ways To Pay Your Student Loans Off Faster [Video]Ways To Pay Your Student Loans Off Faster

It's usually a very long financial road to redemption. Here's the story.

Credit: Celebrity Wire     Duration: 01:10Published

Recent related news from verified sources

Altech Chemicals signs mezzanine finance mandate with Macquarie Bank

Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) has officially mandated Macquarie Bank as the preferred mezzanine lender for its proposed Malaysian high purity alumina...
Proactive Investors

Altech Chemicals continues to progress stage 1 construction at HPA project site in Malaysia

Altech Chemicals Ltd’s (ASX:ATC) (FRA:A3Y) stage 1 construction is progressing as planned at its high purity alumina (HPA) project site in Malaysia, with...
Proactive Investors

You Might Like

Tweets about this

Other recent news in Business

Milo Yiannopoulos banned from AUSTRALIA over Christchurch comment'I'll walk with you': CHRISTCHURCH mosque massacre prompts international flood of support
PM says Fraser Anning must face 'full force of law' for 'appalling' anti-MUSLIM commentsLIVERPOOL CEO battles to turn Fortnite fans to football
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.