Authorization

Horizonte Announces US$325 Million Senior Debt Facility Mandate Executed for the Development of the Araguaia Project

LONDON, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (a??Horizontea?? or a??the Companya??) the nickel development company focused in Brazil, is pleased to announce that it has executed a mandate to arrange a senior secured project finance facility of up to US$325 million (the a??Mandatea??) to fund the construction and development of its Araguaia ferro-nickel project in Brazil (a??Araguaiaa?? or a??the Projecta??).
A syndicate of five international financial institutions, including BNP Paribas (a??BNPPa??), ING Capital LLC (a??INGa??), Mizuho Bank, Ltd. (a??Mizuhoa??), Natixis, New York Branch (a??Natixisa??), and SociA©tA© GA©nA©rale will act as the Mandated Lead Arrangers (a??MLAsa??). The formal Mandate follows the signing of a non-binding indicative term sheet (a??Term Sheeta??) for an up to US$325 million debt facility (the a??Facility").The execution of the Mandate is a key milestone in the project financing process for the development of Araguaia. BNPP, ING, Mizuho, Natixis and SociA©tA© GA©nA©rale have extensive experience in providing project financing to greenfield mining projects and were chosen as Mandated Lead Arrangers due to their extensive Latin American project finance experience and the strength of their mining teams.Closing of the Facility, targeted for end of the calendar year 2020, remains subject to completion ofA due diligence in form and substance satisfactory to the MLAs, final credit approvals and execution of definitive Facility documentation.The definitive Facility documentation will include customary project finance terms and conditions, as well as a comprehensive intercreditor agreement. Drawdowns under the Facility would be subject to customary conditions precedent.
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