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

Nevada has low student debt [Video]Nevada has low student debt

Nevada is among states with lowest average student debt, according to WalletHub study.

Credit: KTNV Channel 13 Las Vegas     Duration: 00:35Published

Santa Clarita Church Wipes Out $1.6 Million In Medical Debt For Easter [Video]Santa Clarita Church Wipes Out $1.6 Million In Medical Debt For Easter

A Santa Clarita church took the concept of forgiveness literally this past Easter and paid off $1.6 million in medical debt. Ken Molestina reports.

Credit: CBS2 LA     Duration: 00:25Published

New moms stuck with crippling medical debt [Video]New moms stuck with crippling medical debt

A local mom is stuck with crippling medical debt after giving birth to her son.

Credit: NewsChannel 5 Nashville     Duration: 01:57Published

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 nominees approved for appointment to YAG management board

Altech Chemicals Limited's (ASX:ATC) two nominees Iggy Tan and Uwe Ahrens have been approved by shareholders of Frankfurt-listed Youbisheng Green Paper AG (YAG)...
Proactive Investors

Volt Resources’ share purchase plan to raise at least $1.1 million for debt facility restructure

Volt Resources Ltd (ASX:VRC) aims to raise at least $1.1 million in capital through an underwritten share purchase plan (SPP) which is to open tomorrow, 23 July,...
Proactive Investors

You Might Like

Other recent news in Business

Who is BORIS JOHNSON, the man tipped to be the UK's next prime minister?Two ARRESTED after climbing Sydney tower
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.