Lithium Argentina Finalizes PPG Joint Venture; Announces $180M Strategic Investment from Ganfeng
Lithium Argentina finalized a joint venture with Ganfeng to consolidate the Pozuelos-Pastos Grandes projects and secured a $180 million strategic investment through a six-year unsecured convertible note. Proceeds from the 4.0% coupon note will fully repay the company's $259 million convertible debt due in January 2027 and terminate a $130 million credit facility, effectively extending the debt maturity profile to 2032 and removing restrictive security and offtake rights.
Key figures
- Guidance
- Expects to fully repay $259 million convertible debt due January 2027 and terminate $130 million debt facility upon closing
- Deal Value Usd
- 180000000
- Offering Price
- 12.5
- Coupon rate
- 4.0%
- Maturity years
- 6
- Debt repaid usd
- 259000000
- Conversion premium
- 96%
- Jv target capacity tpa
- 150000
- Facility terminated usd
- 130000000
- Ganfeng current ownership
- 9.6%
- Ganfeng potential ownership
- 16.1%
- Jv historical investment usd
- 1800000000
AI analysis
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