Kore secures commitment of $2.2bn in funding from Swiss investment platform
Potash development company Kore Potash has signed nonbinding term sheets with Switzerland-headquartered investment platform OWI-RAMS to arrange and provide a funding package of about $2.2-billion for Kore's Kola project, in Congo-Brazzaville. The Aim-, ASX-, JSE- and A2X-listed company, which owns the Kola and the Dougou Extension projects in Congo-Brazzaville, noted in a June 10 statement to shareholders that the funding would be a blend of senior secured project finance and royalty financing. The senior secured project financing facility will account for about 70% of the overall funding, amounting to about $1.53-billion, while the royalty financing will account for the remaining 30% of the financing, or about $655-million.
Potash development company Kore Potash has signed nonbinding term sheets with Switzerland-headquartered investment platform OWI-RAMS to arrange and provide a funding package of about $2.2-billion for Kore's Kola project, in Congo-Brazzaville. The Aim-, ASX-, JSE- and A2X-listed company, which owns the Kola and the Dougou Extension projects in Congo-Brazzaville, noted in a June 10 statement to shareholders that the funding would be a blend of senior secured project finance and royalty financing. The senior secured project financing facility will account for about 70% of the overall funding, amounting to about $1.53-billion, while the royalty financing will account for the remaining 30% of the financing, or about $655-million.
