Sigma Lithium arranges $45 million six-year project finance facility

By Devika Patel

Knoxville, Tenn., June 30 – Sigma Lithium Resources Corp. signed a term sheet for a $45 million senior secured project finance facility to be led by Societe Generale, according to a press release.

Proceeds will be used for the construction and development of the company’s green lithium Grota do Cirilo project in Minas Gerais, Brazil.

The facility is expected to have a six-year term and a borrowing rate of Libor plus 500 basis points, stepping down to Libor plus 450 bps after the project reaches completion.

The Vancouver, B.C., company produces environmentally sustainable battery-grade lithium concentrate.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.