Kore Potash (ASX:KP2) signed non-binding term sheets with Swiss investment platform Owi-Rams GmbH for about AU$2.2 billion in funding for its Kola Potash Project in the Republic of Congo, according to a Tuesday filing with the Australian bourse.
The financing, structured through a Luxembourg-based fund, includes a $1.53 billion senior secured project loan and a $655 million revenue-linked royalty facility, the filing said.
Funds will cover project development, construction, commissioning, financing fees, and owner costs at the project, until operations begin, the filing added.
Key conditions before financial close of the deal include appointing a construction monitor, securing an operator, mitigating political risk, and strengthening Kore's management team, the company said.
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