Building Independence and Resiliency: Supporting the Development of Lithium Production in Europe
The production of lithium – a key material needed for global decarbonization efforts – has historically been dominated by China. Through the Keliber Technology Oy (“Keliber”) transaction, Sibanye-Stillwater, with the support of Natixis CIB and other banks, is contributing to providing access to a diversified source of supply within Europe, while also increasing the region’s resiliency.
The up to EUR500 million financing package, which will be used towards the development, construction, and maintenance of Keliber’s assets, dedicated to the processing of lithium and production of lithium hydroxide in Kaustinen, Kronoby and Kokkola in Finland, comprised a EUR250 million Finnvera supported Export Credit Agency facility, a EUR150 million European Investment Bank facility and a EUR100 million commercial bank facility, wrapped in a Green use of proceeds construct.
The transaction was very well received by the commercial bank market, with 7 international commercial banks participating in addition to the European Investment Bank, which resulted in substantial oversubscription.
Alain Gallois
This landmark transaction sits at the heart of Natixis Corporate and Investment Banking’s strategy focused on supporting Energy Transition projects and clients, especially in the Critical Raw Material value chain. Our roles in this green financing package are a perfect example of how we apply our expertise to bring value in structuring key projects of the transition.
Commenting on the transaction, Alain Gallois, Head of EMEA Corporate & Investment Banking at Natixis CIB : “This landmark transaction sits at the heart of Natixis Corporate and Investment Banking’s strategy focused on supporting Energy Transition projects and clients, especially in the Critical Raw Material value chain. Our roles in this green financing package are a perfect example of how we apply our expertise to bring value in structuring key projects of the transition”.
Through its work, Keliber aims to become EU’s first integrated lithium hydroxide producer dedicated to supplying European market directly. By enhancing the EU´s access to lithium, the project strengthens European resilience in battery materials while contributing to sustainable and environmentally friendly transport. Lithium is a key material in high-performance Li-ion rechargeable batteries for electric vehicles, supporting the decarbonisation of road transport.
Natixis Corporate & Investment Banking acted as Joint Coordinator, Bookrunner, Mandated Lead Arranger, ECA and Commercial facilities Agent and DFI Coordinator on the transaction.
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