IDB proposal for US$200 million funding for ATOME

ATOME (AIM: ATOM), the leading developer of international green fertiliser projects, announces that IDB Invest, the private investment arm of the Inter-American Development Bank (“IDB”), has published an updated consultation on its proposed US$200 million participation subject to contract in the debt funding for ATOME’s Villeta Project (“Villeta” or “the Project”) in Paraguay, including confirmation of the satisfactory completion of environmental and social impact studies.

IDB proposed debt funding

ATOME is pleased to announce that the IDB has published on its website, in the normal course of procedures as part of their investment summary and environment and social impact reporting, that it is proposing an increased US$200 million of debt funding to the Company for ATOME’s planned 260,000 tonne-per-annum green fertiliser Villeta Project in Paraguay.

ATOME welcomes this upgrading which reflects the commercial attractiveness and importance of the project both to the IDB and Paraguay. As previously announced, the Company has received similar debt proposals from multilaterals and institutions, such that the debt portion of the project funding is not only substantially oversubscribed on the basis of these proposals but taken as a whole reflects interest levels noticeably better than both the Company’s and market’s expectations.

In relation to the construction, operating and energy costs of the Villeta Project, also previously made available through a link within the IDB website, ATOME confirms that these are broadly in line with current market expectations as reflected in previous announcements by ATOME and published research by SP Angel, the Company’s house broker.

Analyst Research

The full list of analyst research on ATOME can be found on the Company’s website at https://www.atomeplc.com/investors/analyst-research/

Project update

Casale S.A., ATOME’s nominated EPC contractor, is currently in-country having positive and constructive meetings with local Paraguayan contract and service providers as a further step in moving forward the EPC process.

The satisfactory completion by the IDB of its environmental and social appraisal due diligence for the Villeta Project marks the achievement of a key gating item for any development bank funding.

Further information from the IDB website on the Villeta project, including details of IDB’s environmental impact and social impact studies, is available at the weblink below:

https://www.idbinvest.org/en/projects/green-hydrogen-ammonia-and-fertilizer-plant-paraguay

IDB

IDB, one of the largest sources of finance for Latin America, is owned by 48 member countries including the UK and finances its diverse operations through issuing bonds in international markets where since 1962 its credit rating is AAA. IDB Invest is the private investment arm of the IDB.