Nouveau Monde Graphite (NMG) announced it has received letters of interest totaling over US$1 billion in potential debt financing support for its Phase-2 Matawinie Mine and Bécancour Battery Material Plant. This milestone provides a foundation for the company's Phase-2 project financing and further solidifies its path toward a Final Investment Decision (FID).
Targeted capital providers include Export Development Canada, Canada Infrastructure Bank, Export–Import Bank of the United States, and various other governmental bodies, public institutions, and export credit agencies. These debt providers are contemplating long-term debt or guarantees with maturities beyond 10 years, with no capital repayment during the construction period.
While these letters of interest are non-binding, they express a clear intent to work towards completing a final term sheet. NMG's project financing also relies on the successful completion of equity financing with strategic investors and the fulfillment of outstanding conditions precedent for its offtake agreements with anchor customers.
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