Allens has advised the lenders on the successful financial close of BCI Minerals' $981 million financing for the Mardie Salt Project (the Mardie Project), marking a significant milestone in the development of Australia's first large-scale salt project in decades.
The syndicate of lenders includes Northern Australia Infrastructure Facility, Export Finance Australia, Export Development Canada, Westpac Banking Corporation, and Industrial and Commercial Bank of China Limited.
The financing package comprises $830 million for construction loans, $70 million for bank guarantees, and $81 million for potential cost overruns. The Mardie Project has been accredited as a Green Loan aligned with the Green Financing Framework.
'We are proud to have played a key role in this significant financing deal for the Mardie Project,' said lead Partner Ben Farnsworth.
'This not only represents a major investment but also highlights the growing importance of sustainable financing in the global market. The Green Loan accreditation underscores the project's commitment to environmental sustainability and economic growth.'
Financial close was reached on 4 October. Allens continues to work with Lenders and BCI on satisfying the further conditions to the first drawdown of the construction loan facilities.
