Export credit agency

Zapp EV Secures Commitment of up to $10 million to Start Production and Commercial Rollout of the i300 Electric Urban Motorcycle

Retrieved on:

Tuesday, February 13, 2024

Investment, File, Export credit agency, Security (finance)

Zapp EV will use proceeds from the transaction primarily to start the production and commercial rollout of the i300, the brand’s high-performance electric urban motorcycle.

Key Points:

Zapp EV will use proceeds from the transaction primarily to start the production and commercial rollout of the i300, the brand’s high-performance electric urban motorcycle.
The Company anticipates making initial deliveries of the i300 in Europe in the months ahead, followed by commercial launch of the i300 in Asian markets in late 2024.
Swin Chatsuwan, Founder and Chief Executive Officer of Zapp EV, said: “Our design and engineering teams have delivered an exceptional product.
We aim to achieve a positive gross margin from the start of an anticipated ramp-up in customer deliveries.

TD Bank Appointed Lead Arranger, Mont Sorcier Project

Retrieved on:

Tuesday, November 21, 2023

UKEF, GMX, S&G, Toronto-Dominion Bank, Geo, Public expenditure, GMR, Cerrado, ECA, Project, Export credit agency, Toronto Stock Exchange, Iron, MLA, Cryptocurrency

Cerrado have reported that “further to the October 18, 2023 announcement in relation to potential Export Credit Agency (“ECA”) Support Program Financing of up to $598 million, the Company has appointed the Toronto Dominion Bank (“TO”) as the MLA for the Mont Sorcier Iron and Vanadium Project located in Quebec.

Key Points:

Cerrado have reported that “further to the October 18, 2023 announcement in relation to potential Export Credit Agency (“ECA”) Support Program Financing of up to $598 million, the Company has appointed the Toronto Dominion Bank (“TO”) as the MLA for the Mont Sorcier Iron and Vanadium Project located in Quebec.
Together with the Company's advisors, the bids were evaluated based on ECA Project Finance Experience, execution capabilities and ultimately the financial terms for the Project Financing.
TD has extensive experience in ECA financing, a longstanding relationship with UKEF, and presented competitive and compelling terms for the project financing.
The funding will be to cover 70% of the expected project capital expenditures for the Mont Sorcier project.”
Globex retains a one percent Gross Metal Royalty (1% GMR) on all iron production from the Mont Sorcier Property.

TD Bank Appointed Lead Arranger, Mont Sorcier Project

Retrieved on:

Tuesday, November 21, 2023

UKEF, TSX Venture Exchange, S&G, Toronto-Dominion Bank, Public expenditure, GMR, Cerrado, ECA, Project, Export credit agency, MLA, Cryptocurrency

Cerrado have reported that “further to the October 18, 2023 announcement in relation to potential Export Credit Agency (“ECA”) Support Program Financing of up to $598 million, the Company has appointed the Toronto Dominion Bank (“TO”) as the MLA for the Mont Sorcier Iron and Vanadium Project located in Quebec.

Key Points:

Cerrado have reported that “further to the October 18, 2023 announcement in relation to potential Export Credit Agency (“ECA”) Support Program Financing of up to $598 million, the Company has appointed the Toronto Dominion Bank (“TO”) as the MLA for the Mont Sorcier Iron and Vanadium Project located in Quebec.
Together with the Company's advisors, the bids were evaluated based on ECA Project Finance Experience, execution capabilities and ultimately the financial terms for the Project Financing.
TD has extensive experience in ECA financing, a longstanding relationship with UKEF, and presented competitive and compelling terms for the project financing.
The funding will be to cover 70% of the expected project capital expenditures for the Mont Sorcier project.”
Chibougamau retains a two percent Gross Metal Royalty (2% GMR) on all iron-vanadium production from the Mont Sorcier Property.

Marsh McLennan collaborates with Ukrainian government, banks, and insurers to provide cost-effective insurance for Black Sea grain shipments

Retrieved on:

Wednesday, November 15, 2023

Underwritten by insurers based at Lloyd’s of London, Unity will provide up to US$50 million in hull and separate protection & indemnity (P&I) war risk insurance.

Key Points:

Underwritten by insurers based at Lloyd’s of London, Unity will provide up to US$50 million in hull and separate protection & indemnity (P&I) war risk insurance.
Global law firm, Norton Rose Fulbright, provided advisory services.
John Doyle, President and Chief Executive Officer, Marsh McLennan, commented: “Marsh McLennan is committed to mobilizing our unique expertise to support global food security and stability.
The launch of this insurance facility will especially benefit the developing nations that buy much of Ukraine’s grain and also help Ukraine’s future recovery and reconstruction endeavors.

More Progress at Globex Mont Sorcier Iron Royalty Project

Retrieved on:

Monday, October 23, 2023

MLA, Documentation, ECA, Indication (medicine), Geo, Toronto Stock Exchange, GMX, GMR, Vanadium, NPV, Lead arranger, NI, Export credit agency, Iron, Cryptocurrency, Chicago Mercantile Exchange

The appointment of the MLA is a significant milestone for the project financing requirement.

Key Points:

The appointment of the MLA is a significant milestone for the project financing requirement.
Globex retains a one percent (1%) Gross Metal Royalty on all iron production from the Mont Sorcier property, currently expected to generate US$235M per annum in free cash flow over a 21-year period and having an NPV of US$1.6B based on Indicated Resources only which represents 25% of the total defined resource leaving room for optimization and expansion potential ( see Cerrado press release of March 7, 2023 ).
Separately, Globex owns a large share position in Electric Royalties (ELEC-TSXV) which has a 1% GMR on all vanadium produced from the project.
This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.)

More Progress at Chibougamau Independent’s Mont Sorcier Iron-Vanadium Royalty Project

Retrieved on:

Monday, October 23, 2023

MLA, Documentation, TSX Venture Exchange, ECA, Indication (medicine), Vanadium, NPV, NI, Lead arranger, Export credit agency, Iron, Cryptocurrency

The appointment of the MLA is a significant milestone for the project financing requirement.

Key Points:

The appointment of the MLA is a significant milestone for the project financing requirement.
This press release was written by Jack Stoch, P.
Geo., President and CEO of Chibougamau Independent Mines Inc. in his capacity as a Qualified Person (Q.P.)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.

Northland Power Announces Financial Close of the 1.0 GW Hai Long Offshore Wind Project in Taiwan Financing and Date for Investor Presentation Conference Call

Retrieved on:

Thursday, September 28, 2023

TORONTO, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (Northland) (TSX: NPI) today announced that its Hai Long offshore wind project (Hai Long or the project) in Taiwan has successfully met all conditions to close its 1171 billion New Taiwan Dollars long-term non-recourse green financing (equivalent of CAD 5 billion).

Key Points:

TORONTO, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (Northland) (TSX: NPI) today announced that its Hai Long offshore wind project (Hai Long or the project) in Taiwan has successfully met all conditions to close its 1171 billion New Taiwan Dollars long-term non-recourse green financing (equivalent of CAD 5 billion).
Hai Long will play an important role in helping the Government of Taiwan achieve its renewable energy target of 15 GW of offshore wind to be constructed between 2026 and 2035.
Once operational, Hai Long will be one of the largest offshore wind facilities in Asia, and will provide enough clean energy to power more than one million Taiwanese households.
There were no other material changes to the financial metrics disclosed within the press release dated September 21, 2023.

Northland Power Announces Signing of Credit Agreement for $5.0 Billion Project Financing at Hai Long Offshore Wind Project

Retrieved on:

Friday, September 22, 2023

TORONTO, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (Northland) (TSX: NPI) today announced that its Hai Long offshore wind project (Hai Long or the project) in Taiwan has signed a credit agreement to secure 118 billion New Taiwan Dollars long-term over 20 year non-recourse financing (equivalent of $5 billion CAD). The weighted average all-in interest cost for the term of the financing is expected to be approximately five per cent.

Key Points:

The project is Northland’s first offshore wind project in Asia and fifth in Northland’s offshore wind portfolio.
Upon completion of Hai Long and the Baltic Power project, the company’s gross installed offshore wind capacity will nearly triple from 1.2 GW to 3.3 GW.
TORONTO, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (Northland) (TSX: NPI) today announced that its Hai Long offshore wind project (Hai Long or the project) in Taiwan has signed a credit agreement to secure 118 billion New Taiwan Dollars long-term over 20 year non-recourse financing (equivalent of $5 billion CAD).
Once operational, Hai Long will be one the largest offshore wind facilities in Asia, and provide enough clean energy to power more than one million Taiwanese households.

Northland Power Announces Signing of Credit Agreement for $5.2 Billion Project Financing at Baltic Power Offshore Wind Project

Retrieved on:

Tuesday, September 19, 2023

Maintenance, Export credit agency, Ratio, Baltic Sea, Polish government-in-exile, Wind, EBITDA, CFD, NPI, Power, TSX, Northland Power, Adjustment, Free cash flow, Renewable energy, Commercial property, Cryptocurrency, Baltic

TORONTO, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) along with its partner, Orlen S.A. (“Orlen”), today announced that its Baltic Power offshore wind project (“Baltic Power” or the “project”) in Poland has signed a credit agreement to secure an equivalent of $5.2 billion of non-recourse green financing that adheres to Northland’s green financing framework covering construction and a 20-year term.

Key Points:

Baltic Power is a 1.1 gigawatt (GW) offshore wind project being developed as a joint venture between Northland Power (49 per cent) and Orlen S.A. (51 per cent).
The project is Northland’s fourth in Europe within its growing offshore wind portfolio, with long tenor and high credit quality offtake agreements.
Baltic Power will nearly double the company’s gross installed offshore wind capacity from 1.2 GW to 2.3 GW.
TORONTO, Sept. 19, 2023 (GLOBE NEWSWIRE) -- Northland Power Inc. (“Northland” or the “Company”) (TSX: NPI) along with its partner, Orlen S.A. (“Orlen”), today announced that its Baltic Power offshore wind project (“Baltic Power” or the “project”) in Poland has signed a credit agreement to secure an equivalent of $5.2 billion of non-recourse green financing that adheres to Northland’s green financing framework covering construction and a 20-year term.

ASCENDANT RESOURCES ENTERS TENDER PHASE FOR MANDATED LEAD ARRANGER FOR ITS EXPORT CREDIT AGENCY SUPPORTED PROJECT FINANCING AT ITS LAGOA SALGADA PROJECT IN PORTUGAL

Retrieved on:

Tuesday, September 5, 2023

TORONTO, Sept. 5, 2023 /PRNewswire/ - Ascendant Resources Inc. (TSX: ASND) (OTCQB: ASDRF) (FRA: 2D9) ("Ascendant" or the "Company") ") is pleased to announce that it has commenced the tender phase for the Mandated Lead Arranger ("MLA") of its Export Credit Agency project financing program.

Key Points:

TORONTO, Sept. 5, 2023 /PRNewswire/ - Ascendant Resources Inc. (TSX: ASND) (OTCQB: ASDRF) (FRA: 2D9) ("Ascendant" or the "Company") ") is pleased to announce that it has commenced the tender phase for the Mandated Lead Arranger ("MLA") of its Export Credit Agency project financing program.
As previously announced on April 17, 2023 the Company appointed SD Capital Advisory Ltd and GKB Ventures Ltd ("S&G") to solicit interest for Export Credit Agency backed Project Financing.
As a result of this process the Company appointed UK Export Finance to support potential export credit facility.
We look forward to working with UKEF and the future appointed MLA to complete project financing in the coming months."