Spain Highfield Resources receives financing approval for Muga Potash project

Spanish fertilizer firm Highfield Resources announced it has received credit approvals for project financing of up to €320.6m ($317.4m) to fund the construction and development of its Muga Potash project in Spain.

The funding was arranged from a syndicate of four international financial institutions acting as mandated lead arrangers (MLAs), which were BNP Paribas, ING Bank, Natixis CIB and Societe Generale.

Highfield said there will be a senior debt facility of €300m with a term of 10 years to fund the construction and development of the project.

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