POSCO Secures $700 Million IDB Credit Line for Lithium Expansion

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POSCO (KRX:005490) has secured a $700 million short-term borrowing facility from IDB Invest, the private-sector arm of the Inter-American Development Bank Group, to support its lithium brine operations in Argentina.

The credit line, approved on Aug. 4, will provide flexible working capital for POSCO Argentina's first lithium plant and its second facility, which is scheduled for completion in the second half, according to a statement on Friday.

The financing structure combines a direct A-loan of up to $250 million with the potential mobilization of an additional $450 million from international financial institutions.

The IDB facility offers tax breaks on interest and transaction fees under its intergovernmental framework, lowering financing costs and bolstering project profitability after POSCO Argentina posted its first quarterly operating profit in the second quarter.

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