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Salt Lake Potash syndicates US$138 million senior debt facility to Sequoia and Commonwealth Bank

Following the syndication, the Taurus investment will be reduced to US$35 million and CEFC investment to US$39 million.

Salt Lake Potash Ltd -
The US$138 million senior debt facility is supporting the development of the Lake Wells SOP Project

Salt Lake Potash Ltd (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) (FRA:W1D) has syndicated its US$138 million senior debt facility with Sequoia Economic Infrastructure Income Fund (LON:SEQI) and the Commonwealth Bank of Australia (ASX:CBA) joining the facility.

SEQI and CBA will invest US$39 million and US$25 million respectively into the facility, complementing existing investments led, and arranged by Taurus Mining Finance Fund No. 2 L.P and the Australian Government’s Clean Energy Finance Corporation (CEFC).

Following the syndication, the Taurus investment will be reduced to US$35 million from US$91 million and CEFC to US$39 million from US$47 million.

“Robust financial characteristics”

Salt Lake Potash chief executive officer Tony Swiericzuk said: “I am extremely pleased to welcome SEQI, an experienced global debt investor and leading Australian bank CBA into our Senior Debt Facility.

“The breadth and quality of investors that have been attracted to this facility is testament to the robust financial characteristics and positive environmental credentials of the project and its proficient execution by the SO4 team.

“We look forward to continuing our relationship with Sequoia and CBA as we pursue our vision of a multi-lake SOP province in WA.”

UK-based lender

SEQI, advised by Sequoia Investment Management, is a UK-based lender with £1.8 billion under management.

It has been a leader in the infrastructure sector, transforming it from a lending asset class to an investment asset class, working closely with investors and other key counterparties.

It is listed on the FTSE 250 Index of the London Stock Exchange.

The Commonwealth Bank of Australia is Australia’s leading provider of integrated financial services, including retail, premium, business and institutional banking, funds management, superannuation, insurance, investment and share broking products and services.

Quick facts: Salt Lake Potash Ltd

Price: 24 GBX

AIM:SO4
Market: AIM
Market Cap: £176.77 m
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Salt Lake Potash Ltd's (ASX:SO4) (LON:SO4) (OTCMKTS:WHELF) (FRA:W1D) Tony Swiericzuk caught up with Proactive's Andrew Scott soon after announcing it's syndicated its US$138 million senior debt facility with Sequoia Economic Infrastructure Income Fund (LON:SEQI) and the Commonwealth Bank of...

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