Frontier Energy Secures AU$280 Million Debt Package; Shares Fall 5%

MT Newswires Live
Jul 17

Frontier Energy (ASX:FHE) has secured credit-approved debt commitments of up to AU$280 million from Natixis and Sumitomo Mitsui Banking to fund development of its Waroona Renewable Energy Project, according to a Friday Australian bourse filing.

The financing package comprises a construction and term facility of up to AU$250 million, a bank guarantee facility of AU$13 million, and a debt service reserve facility of AU$17 million, per the filing.

The project is expected to be fully funded through construction and commissioning following the receipt of debt commitments and completion of the planned AU$110 million conditional equity placement, the filing said.

The company will now finalize documentation, complete due diligence, and satisfy all conditions precedent, with construction set to begin following equity settlement and financial close, the filing added.

The company's shares fell 5% in recent Friday trade.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10