On December 3, 2022, Sigma Lithium Corporation entered into a US$100 million senior secured pre-export financing agreement with Synergy Acquisitions Holding Ltd. as lender. An initial drawdown of US$60 million under the debt financing was completed on December 12, 2022.
The debt financing will fund Sigma Lithium, including initiation of detailed engineering and construction of its 100% owned Grota do Cirilo Project currently in construction in Minas Gerais, Brazil. Remaining drawdowns are available by way of a multi-draw term loan, which has a 48-month maturity date and a borrowing rate of 12-month BSBY plus 6.95% per annum.
Cassels acted for Sigma Lithium.