Eco Material Technologies Inc has successful closed a US$800m term loan credit facility (the Green Term Loan Facility) that matures in February 2032 and provides Eco Material with enhanced financial flexibility and support for its strategic initiatives.
Grant Quasha, Eco Material's CEO, commented, "We are very excited to close this new Green Term Loan Facility, which provides us with significant incremental capital to invest in our market leading suite of technology enabled green supplementary cementitious material manufacturing and harvesting facilities. This raise comes from a position of strength and reflects our strong performance over the past year and robust pipeline of projects. We appreciate the ongoing support from our existing lenders, resulting in an oversubscribed raise and are excited for the growth in front of us as we push towards our goal of decarbonising the cement and concrete sectors in North America by doubling our business to 20 million tons per year of SCM production and recycling."
Jefferies Finance LLC, Deutsche Bank Securities Inc and Mizuho Bank Ltd acted as joint lead arrangers and joint bookrunners on the transaction. Jefferies Finance LLC also serves as the administrative agent and the collateral agent.
Eco Materials Technologies Inc is a leading producer, marketer and distributor of supplementary cementitious materials (SCMs) and producer of green cement products in North America.
