Enegra Completes Initial Drawdown of Funds Under USD 1.5B Debt Facility

Enegra is pleased to announce the completion of the initial drawdown of funds under its USD 1.5 billion debt facility with EGX Bond LLC.

KUALA LUMPUR, MALAYSIA, May 24, 2024 /EINPresswire.com/ -- Enegra Group Ltd (LL15959, “Enegra”) is pleased to announce the successful completion of the initial drawdown of funds under its USD 1.5 billion debt facility with EGX Bond LLC, marking a significant milestone in the company's growth strategy.

The underlying transaction enabling the debt facility was complex and took considerable effort and time to complete, a result of close collaboration with several commercial partners. Of particular note was the usage of the EGX security tokens issued by Enegra and representing the company’s equity, to secure the debt facility. This groundbreaking initiative will provide Enegra with the capital required to monetise its existing offtake, acquire additional offtake of energy-related metals and minerals, and move downstream into refining and manufacturing, opening doors to a multitude of opportunities in the vibrant Indonesian market.

In the short-term, Enegra aims to solidify its position as a dominant force in the Southeast Asian commodities sector through strategic coal and nickel trading partnerships with industry leaders in China, Indonesia, and Malaysia.

Enegra’s CEO, Matthew Averay, expressed his enthusiasm about the debt facility, "Not only does this funding milestone propel Enegra to a position of strength within the local market, but demonstrates the strength and value of EGX. We are primed to lead the way in Indonesia's thriving Coal and Nickel brokerage industry. I look forward to expanding the team and turning our strategy into action."

Enegra’s Chairman, David Vincent, emphasized the transformative potential of the debt facility, "With the funding available under the debt facility, Enegra is perfectly positioned to rapidly advance our targeted projects, and this initial drawdown signifies our readiness to capitalise on Indonesia's vast opportunities."

Now that the initial drawdown of funds under the debt facility has completed, and per the terms of the debt facility, the CEO of EGX Bond, Preston Olsen, will be appointed to the Enegra board of directors.

About Enegra Group

Enegra Group Ltd (LL15959) is a company incorporated in the Labuan International Business and Financial Centre, Malaysia, which is an independent offshore financial jurisdiction regulated by the Labuan Financial Services Authority under the purview of the Ministry of Finance, Malaysia.
Enegra enables commodity miners in emerging markets to compete globally, via world-class trading expertise, risk management, logistics, and governance. The success of their model makes Enegra one of the largest owners of physical commodity offtakes in the world. This offtake provides Enegra with audited net assets of over USD 50 billion.

About EGX

Enegra has tokenised 100% of the equity in Enegra Group Ltd, with equity represented by the ERC-3643 compliant EGX security token issued on the Polygon blockchain (ISIN: MYA159590209). Enegra Group Ltd shares are held by a licensed Trust Company as Nominee on behalf of EGX token-holders, and all rights and distributions are passed on to the token-holders, including distributions and voting.

Further information about Enegra and EGX can be found at https://linktr.ee/enegra. Enquiries should be directed to investor@enegragroup.com.

Forward-Looking Information

This document contains forecasts, projections, goals, plans, and other forward-looking statements regarding Enegra’s earnings and other data. Such forward-looking statements are based on Enegra management’s assumptions, estimates, outlook, and other judgments made in light of information available at the time of preparation of such statements and involve both known and unknown risks and uncertainties.

Accordingly, plans, goals, and other statements may not be realized as described, and actual financial results, success/failure or progress of development, and other projections may differ materially from those presented herein.

Even when subsequent changes in conditions or other circumstances make it preferable to update or revise forecasts, plans, or other forward-looking statements, Enegra disclaims any obligation to update or revise this document.

Unless otherwise specified, all financial data in this document is defined in USD.

The Labuan Financial Services Authority accepts no responsibility for the adequacy or accuracy of this release.

Eli Weir
Enegra Group Ltd
+60 17-225 2689
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
Other