• 24 Aug 20

SIMEC Atlantis Energy seals deal to finance 100% of Uskmouth Phase 1 project

SIMEC Atlantis Energy seals deal to finance 100% of Uskmouth Phase 1 project

SIMEC Atlantis Energy Ltd. | SAE | 2.3 0.10 0.0%

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SIMEC Atlantis Energy Limited's (LON:SAE) Tim Cornelius explain's to Proactive what the debt financing deal with South Korean financial institution Hana Financial Investment means for the Uskmouth Phase 1 project. Cornelius says the debt facility will provide the company with up to £170mln and Hana will also provide an equity bridge loan. The deal also opens the door for a 'Phase 2' operation and further expansion into South Korea.

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