Project Core is a leading Southeast Asian provider of high-quality drilling services for the minerals, energy and civil sectors.
BlueMount (BlueMount Capital (Qld) Pty Ltd) is Project Core’s corporate advisor and has been assisting the company with its strategic focus, investor readiness, valuation, financial projections and investment structuring, due diligence and placement.
BlueMount has secured a US$10m facility to refinance existing facilities and fund further expansion of Project Core. The engagement has involved complex cross jurisdiction lending and security arrangements.
Equity and debt markets are becoming more challenging as we enter Q4 in 2022. Central banks around the world are targeting inflation by successively increasing interest rates. The dynamics are for more expensive equity and debt. Issuers that can delay capital raisings will do so, however for corporations that must raise funds, the landscape may be more competitive, and they will need to have a compelling case.
Generally, primary issuance in the bond market is significantly larger than the equities market, but in Australia it is the reverse. This is especially so for the middle market in Australia which underutilizes corporate and project bonds in funding their capital stack. The graphs below show the comparative global primary issuance of bonds and equity. The bond issuance of US$27.3 trillion in 2020 dwarfs the US$827 billion in equity raised in the same year.
When businesses approach us for advice regarding capital raising, we frequently find that companies start seeking help when they already have serious cash flow or working capital issues.
Working capital refers to the funds available to cover day-to-day operational expenses and short-term liabilities. If a company’s current assets (e.g. cash, accounts receivable, inventory) are not sufficient to cover its current liabilities (e.g. accounts payable, short-term debt), it may indicate a working capital problem.
BlueMount Capital introduces Project Energy (“Company”) – a UK Limited Company focusing on renewable energy infrastructure and operations, with current core markets in Brazil and Europe, and expanding into the USA, and throughout UK and Europe.
As an independent power producer (IPP), Project Energy’s model is to develop, finance, construct and manage a portfolio of utility-scale and distributed energy assets. Project Energy develops its sites from conception, ensuring a complete end-to-end solution. The Company now has an extensive in-house EPC (Engineering Procurement and Construction) capability which allows control of the entire development process, from greenﬁeld conception, through development, construction, and operation.
Great news for BlueMount Capital client Whisky Development Syndicate, with brands the Company holds recently winning some amazing awards for whisky.
“Hidden Lake Cask No. 195 has been awarded a Gold Medal at this year’s World Whiskies Awards and was one of only 5 Australian whiskies in its category to be awarded a Gold Medal amongst a huge number of entries.
“It is really exciting for Hidden Lake to have been awarded a Gold Medal at what is probably considered the most prestigious whisky awards ceremony in the world. Whilst this particular product is not part of the whisky stocks held by the Syndicate, it illustrates the ability of the Mighty Craft and Hidden Lake teams to bring amazing whisky expressions to life and have them recognised on a global scale” says Chris Malcolm (Founder of Hidden Lake and Director of the Whisky Development Syndicate).
BlueMount Capital in the news: “Altech Identifying Partners In US$100 MM Project Equity Investment For High Purity Alumina Project”
Australian innovator Altech Chemicals Ltd. updated the market on the progress of its high purity alumina project this week, including several financing projects that are currently underway with investors in Europe and the United States.
Altech’s Managing Director Iggy Tan and other company officials met with their counterparts at Germany’s KfW IPEX-Bank this summer, and the bank confirmed that it is still on board with Altech’s projects after being updated on the progress of its US$144 million green bond offer and its US$100 million project level equity funding initiative. The bank reiterated its support for the US$190 million senior loan facility and advised Altech that the German export credit agency has renewed its US$170 million export credit cover, which is part of the bank’s senior loan facility.
Altech Chemicals Limited (Altech/Company) (ASX: ATC) (FRA: A3Y) is pleased to provide an update on its Malaysian high purity alumina (HPA) project, and its continuing efforts to close project finance. Managing director Iggy Tan, accompanied by executive management, recently completed a visit to Europe.
BlueMount Capital in the news: “German bank confirms support of Altech Chemicals’ high purity alumina project in Malaysia”
Emerging battery materials producer Altech Chemicals (ASX: ATC) has confirmed that Germany’s government-owned KfW IPEX-Bank continues to fully support its high purity alumina (HPA) project in Malaysia.
The confirmation comes after Altech managing director Iggy Tan visited the bank to discuss the status of the company’s secondary project finance initiatives, including a US$144 million green bond offer and a US$100 million project level equity funding initiative.
Following the meeting, KfW IPEX-Bank confirmed its support for the project, and its commitment to a senior loan facility of US$190 million.
BlueMount Capital in the news: “Altech Chemicals (ASX:ATC) advances financing activities for Malaysia HPA project”
Altech Chemicals (ATC) has advanced project financing activities for its Malaysia high-purity alumina (HPA) project.
Following a trip to Europe by company management, Altech has confirmed that Germany-based KfW IPEX-Bank remains committed to the project and a senior loan facility of US$190 million (A$273 million).
It also said Euler Hermes, the German government export credit agency, has renewed a US$170 million export credit cover for the KfW IPEX Bank senior loan facility.
In addition, ATC progressed discussions to finalise a US$144 million green bond offering with London-based Bedford Row Capital and Perth-based Bluemount Capital.