Arcadium Lithium (ASX:LTM) entered into a definitive credit agreement on Jan. 30 with Rio Tinto Finance, a Rio Tinto (ASX:RIO) unit, for a $200 million first lien secured term loan facility, according to a Thursday Australian bourse filing.
Under the agreement, Arcadium Lithium Financing is designated as the borrower, and Rio Tinto Finance is designated as the lender and administrative agent, the filing said.
The facility bears interest at a forward-looking secured overnight financing term rate published by CME Group Benchmark Administration plus 0.10% per annum, subject to a floor of zero, as well as an applicable margin.
The facility's principal amount, as well as accrued and unpaid interest, will be due and payable on Sept. 1, 2027.
The funding will be used for certain capital expenditure payments of Arcadium and its units.
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