Appian Capital Advisory’s Credit Financing With Western Potash

In UK Norton Rose Fulbright, advised on the matter.

Norton Rose Fulbright advised Appian Capital Advisory LLP with a team including Martin McCann (Picture – Project).

Appian Capital Advisory LLP (“Appian”) signed a C$85,000,000 term loan facility financing transaction with Western Potash Corp. (“Western Potash”), a wholly owned subsidiary of Western Resources Corp. (“Western Resources”).
Appian is a UK-based investment advisor to private equity funds that invest solely in mining and mining-related companies around the world. Proceeds of the transaction will enable Western Potash to complete the remaining construction and development of the Milestone Phase I Project, its potash project in Saskatchewan, Canada.

The multi-tiered credit transaction includes: six-year term loan facility of up to C$85,000,000, at an interest rate of 12.5% per annum; 1.5% royalty to Appian on the gross revenue of the Milestone Phase I Project; warrants for Appian to acquire up to 9.9% shares in Western Resources after exercise.

Norton Rose Fulbright’s multi-jurisdictional financing team was led by Martin McCann (Picture) and included counsel Felicity Brown (London) and partners Geoff Gilbert, Alan Harvie (Environmental), Thomas Collopy, Barry Segal (Tax) and Brigitte LeBlanc-Lapointe (securities) and senior associate Edward Anido (Canada).

Involved fees earner: Edward Anido – Norton Rose Fulbright; Felicity Brown – Norton Rose Fulbright; Thomas Collopy – Norton Rose Fulbright; Geoffrey Gilbert – Norton Rose Fulbright; Alan Harvie – Norton Rose Fulbright; Brigitte LeBlanc-Lapointe – Norton Rose Fulbright; Martin McCann – Norton Rose Fulbright; Barry Segal – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Appian Capital Advisory LLP ;

Author: Giulia Di Palma