China Tianqi lithium industry signed $3 billion 500 million loan case

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      China Tianqi Lithium has signed a $3.5 billion preferred loan to support the acquisition of a 24% stake in Chilean lithium manufacturer SQM, the base point quoted sources as saying. SQM is the second largest lithium producer in the world.
Citic Bank and Citic Bank (International) have underwritten loans of $2.5 billion and $1 billion, respectively, and then started general lending in July.
A total of four Chinese banks and two European banks joined together and signed on Monday.
Both CITIC Bank and Tianqi lithium industry declined to comment.
The $2.5 billion loan is divided into a one-year one-off loan of $1.3 billion and a three-year loan of $1.2 billion in installments. Part of the $1 billion loan is one-year one-off repayment.
The one-year loan rate is 270 basis points higher than the three-month London Interbank Offer Rate (Libor), and the three-year amortization rate is 370 basis points higher than the six-month Libor.
Chile's anti monopoly court rejected Tuesday's appeal to authorize Chinese mining company Tianqi lithium industry to acquire SQM stake. The ruling is that the Tianqi lithium industry is once again successful in the court.


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