BCI executed an AU$981 million Syndicated Facility Agreement for Mardie Project

BCI Minerals Limited (ASX: BCI) has successfully executed a Syndicated Facility Agreement (SFA) for a substantial project finance debt totalling AU$981 million for its Mardie Salt and Potash Project. The agreement involves key financial institutions, including Northern Australia Infrastructure Facility (NAIF), Export Finance Australia (EFA), Export Development Canada (EDC), Westpac Banking Corporation (Westpac), and Industrial and Commercial Bank of China Limited (ICBC).

Earlier credit approvals and commitments from EDC, Westpac, ICBC, NAIF, and EFA contributed to the overall funding. The debt finance, fully backed by projected salt revenues, focuses on the initial "salt-first" phase of the Mardie Project. BCI anticipates satisfying remaining conditions precedent to Financial Close in Q1 2024, with the first debt drawdown projected by mid-2024. Ancillary documentation and finance conditions precedent have already been fulfilled, marking significant progress toward achieving financial milestones.

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