Financing Package
2006年11月21日 - 7:14PM
RNSを含む英国規制内ニュース (英語)
RNS Number:4170M
D1 Oils Plc
21 November 2006
D1 Oils plc
21 November, 2006
Financing Package to Fund Roll-out of Refinery Assets
D1 Oils plc (D1), the UK-based global producer of biodiesel, today announces the
completion of the sale and leaseback financing package for its D1 20 refinery
assets that was referred to in D1's interim results on 27 September 2006. The
total value of the facility, provided by Allied Irish Bank and Investec, is
#5.1m. The term of the facility is five years and the effective interest rate is
8.0%.
The finance package includes the sale and leaseback of the first of the four
8,000 tonne D1 20 units, now in operation at the Company's Teesside site, for a
value of #850,000 plus VAT per unit. The facility will also finance a further
two of the Company's new upscaled 10,000 tonne D1 20 units once completed. The
agreement will allow for an initial cash release of 35%, with further annual
cash releases scheduled over the five year term.
D1 currently has 32,000 tonnes of operating refining capacity in Teesside, and
plans to expand UK production capacity to 320,000 tonnes by the end of 2007 and
420,000 tonnes by the end of 2008. This expansion will include the deployment of
six new 10,000 tonne D1 20 units at the Teesside site.
Elliott Mannis, Chief Executive Officer of D1 Oils said:
"This finance package demonstrates the growing confidence in both D1's business
model and in our refinery technology in particular. Lenders are willing to
finance both our current working refineries and our upscaled models to be
deployed in the New Year. By enabling us to finance further unit deployments,
this agreement marks a significant step in building our biodiesel refining
business in the UK and creating capacity to meet future demand."
Contacts
D1 Oils:
Graham Prince, Head of Corporate Communications
Tel: +44 (0) 1642 755580
Mobile: +44 (0) 7973 323840
Brunswick Group:
Kevin Byram / Mark Antelme
Tel: +44 (0) 20 7404 5959
Notes to Editors
D1 Oils plc is a UK-based global producer of biodiesel. We are building a global
supply chain and network that is sustainable and delivers value from
'earth-to-engine'. Our operations cover agronomy, refining and trading. We are
pioneering the science, planting and production of inedible vegetable oils; we
design, build, own, operate and market biodiesel refineries; and we source,
transport and trade seeds and seedlings, seedcake, crude vegetable oils and
biodiesel. Our vision is to be the world's leading biodiesel business.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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