Pilbara Minerals (ASX:PLS) achieve financial close for US$110m debt facility

Company News

by Rachael Jones

Australian spodumene and tantalum concentrate producer, Pilbara Minerals (ASX:PLS) has completed and executed the finance documents supporting the senior secured US$110M Finance Facility with BNP Paribas and the Clean Energy Finance Corporation (CEFC).

Proceeds will be used to redeem the outstanding balance owing under the existing US$100 million Nordic Bond, which was used to fund the Stage 1 development of the Pilgangoora Lithium-Tantalum Project.

Draw-down of the new US$110M senior secured debt facility and repayment of the Nordic Bonds anticipated by 30 September.

Agreements executed also include the renewal of the US$15M Working Capital Facility with BNP Paribas.

Shares in Pilbara Minerals (ASX:PLS) are trading 4.4 per cent higher at 35 cents.