News and Announcements
Altech Receives Letter of Interest for German ECA Cover
- Published December 10, 2015 10:40AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
10th December 2015, ASX Announcement
Highlights:
- Letter of Interest (LOI) received from Euler Hermes for German export credit cover (ECA)
- Approximately US$40.0 million of project capital estimated to qualify for ECA cover
- Debt supported of ECA cover is typically at attractive conditions, including long tenure
Altech Chemicals Limited (Altech/the Company) (ASX: ATC) is pleased to report that following a recent presentation to Euler Hermes Aktiengesellschaft (“Hermes”) in Hamburg, Germany and its preliminary evaluation of the Company’s proposed high purity alumina (HPA) project, Hermes has issued a Letter of Interest (LOI) confirming in principle support under the export credit insurance guarantee scheme of the Federal Republic of Germany (ECA cover).
The LOI is based on the information provided and subject to further in-depth due dilligance. In addition, the LOI is not legally binding and has been issued without prejudice to any decision of authorities to provide cover for this project.
To read the full announcement, please click here.
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