HPP advised Terrafame Ltd in its financing arrangement to fund the company’s investment programme over the next few years. As a part of the financing solution, Terrafame and its main owners – Finnish Minerals Group and the Galena funds – have agreed on a EUR 100 million financing arrangement consisting of a EUR 50 million shareholder loan and a EUR 50 million equity financing commitment. In addition, Terrafame has agreed on a EUR 50 million advance payment arrangement with Trafigura.
In the same context, Terrafame has agreed on a one-year extension to the maturity of an existing EUR 250 million bank loan agreement as well as on extending a EUR 65 million revolving credit facility previously received from Finnish Minerals Group for the same period. The new maturity of the bank loan and the revolving credit facility ends in December 2028.
With the new financing arrangements, Terrafame will finance its ongoing significant investments, which will secure the continuation of operations far into the future.
Read more (Terrafame’s press release)
