Danakali ESG Framework slide image

Danakali ESG Framework

US$200M senior debt facility 2 leading African development financial institutions, AFC and Afreximbank, have executed documentation to provide CMSC with US$200M in senior debt finance To be funded equally by the Mandated Lead Arrangers Funds will be used for development and construction of the Project Endorsement of the strength of the Project Key enabler for further funding requirements Further step towards completing ground- breaking project financing in Eritrea Key terms Facility type and value Mandated Lead Arrangers Credit risk insurance Borrower Guarantors Tenor Margin Covenants Availability Details • · • Senior secured loan facilities of US$200M • AFC and Afreximbank e ECIC • CMSC DANAKALI Danakali, STB Eritrea Pty Ltd (fully owned subsidiary of Danakali) and ENAMCO 7 years from financial close, based on a scheduled amortisation profile 8.5% p.a. over 3-month LIBOR Customary positive, negative and financial covenants and undertakings for a funding facility of this nature For a period of up to 24 months after financial close; and After satisfaction of all conditions precedent "The finalisation of debt funding for Colluli brings it one step closer to making a significantly positive impact on the Eritrean economy and its people. Colluli has the potential to significantly boost the Eritrean economy while providing benefits to Eritreans through improved agricultural productivity, training and employment" Berhane Habtemariam, ENAMCO General Manager and Eritrean Minister of Finance Source: DNK announcement, 5-Aug-19
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