Amaero International (ASX:3DA) received the US Export-Import Bank (EXIM) approval for a AU$37.8 million loan to its Tennessee-based unit Amaero Advanced Materials & Manufacturing, according to a Thursday filing with the Australian bourse.
The loan, part of EXIM's "Make More in America" initiative, will fund capital equipment for the unit's advanced manufacturing operations, the filing said.
Amaero expects to finalize the documentation of the loan in the current quarter. The funds will be drawn over five quarters, starting in the fourth quarter of fiscal 2025, the filing added.
The company plans to invest $50 million into equipment and facility upgrades at the unit.
The loan terms include a 12-month interest-only period, followed by seven years of principal and interest payments at an estimated 6.95% annual cost of capital, the company said.
Shares of the company rose 3% in recent Thursday trade.
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