Inter-American Development Bank (IDB) proposal for US$200 million funding for ATOME

LONDON: ATOME (AIM: ATOM), a leading developer of international green fertilizer projects, has announced that IDB Invest, the private investment arm of the Inter-American Development Bank (IDB), is proposing to provide US$200 million in debt funding for ATOME’s Villeta Project in Paraguay.

This funding proposal is subject to contract and follows the satisfactory completion of environmental and social impact studies.

IDB Invest’s updated consultation, published on its website, confirms the proposed increase in funding for ATOME’s planned 260,000 tonne-per-annum green fertilizer Villeta Project. This proposal reflects the project’s commercial attractiveness and importance to both the IDB and Paraguay. Previously, ATOME received similar debt proposals from other multilaterals and institutions, resulting in the debt portion of the project funding being substantially oversubscribed. These proposals have exceeded the expectations of both the Company and the market.

ATOME has confirmed that the construction, operating, and energy costs for the Villeta Project are broadly in line with current market expectations, as noted in previous announcements and research by SP Angel, the Company’s house broker. The IDB, one of the largest sources of finance for Latin America, is owned by 48 member countries, including the UK, and finances its operations through international bond markets. IDB Invest is the private investment arm of the IDB, supporting private sector projects.

The proposed debt funding from IDB Invest marks a significant milestone for ATOME’s Villeta Project, highlighting the project’s potential to contribute to sustainable agriculture in Paraguay and the broader region. Further announcements will be made as the funding process progresses.

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