Abterra, a company listed on the Singapore Exchange, has entered into a supplemental agreement with YA Global Master SPV, a fund managed by Yorkville Advisors, in connection with the equity line facility agreement dated 17 February, to increase the maximum investment amount from SGD20m to SGD50m.
In addition, YA Global will subscribe to an initial SGD3m series A loan note, with the option of Abterra to drawdown an additional three notes for a combined total of SGD12.0m.
The investment was advised out of Yorkville Advisors in Hong Kong.
Jaffe Lau, chief executive officer of Abterra, says: “By more than doubling its maximum investment amount to SGD50m, Yorkville has given a clear sign of endorsement on our potential as a regional supply chain manager for steel related commodities. The addition of up to SGD12.0m of loan notes also grants us the flexibility to meet our production expansion plans.”
Anthony Chan, managing director and head of Asia at Yorkville HK, says: “This increased potential investment further galvanises our capital partnership with Abterra, in support of its growth strategy in the natural resources sector. Abterra is well-positioned to continue its expansion into valuable upstream assets and further its regional growth in the trading of core commodity products such as coking coal, coke, and iron ore.”
Abterra is an emerging supply chain manager in the natural resources business. It pursues sustainable long term growth in the Chinese and international markets. Abterra trades coking coal, coke and iron ore in Australia, India, Indonesia and China.
