Pilbara Minerals Limited announced a refinancing of its existing debt facilities to support its long-term growth. The company has received binding commitments from BNP Paribas, and Australia's specialist clean energy investor, the Clean Energy Finance Corporation (CEFC) to provide a senior secured USD 110 million Finance Facility (Finance Facility). Proceeds will be applied to redeem the existing USD 100 million Nordic Bond used to fund the Stage 1 development of the Pilgangoora Lithium-Tantalum Project (Pilgangoora Project), including reimbursement of the principal repayment (USD 6.25 million) and interest payment (USD 3 million) made to bondholders in June 2020. The proceeds will also contribute towards the early redemption premium payable under the Nordic Bond (USD 4.5 million), as well as related transaction costs. The participation of both BNP Paribas and the CEFC in the new Finance Facility reinforces their existing strong relationships with Pilbara Minerals, with both parties existing lenders to the Pilgangoora Project BNP Paribas has committed to providing USD 73.3 million of the Finance Facility with the CEFC contributing the remaining USD 36.7 million, for a total of USD 110 million. Binding terms have also been received from BNP Paribas to extend the undrawn USD 15 million Working Capital Facility originally established in 2018. The establishment of this USD 110 million Finance Facility represents the culmination of the process outlined in Pilbara Minerals' March 2020 Quarterly Activities Report to evaluate funding options that could ultimately ease the cashflow impact of the Nordic Bond, including reducing the 12% cost of funding attached to the Nordic Bond. The Finance Facility being provided by BNP Paribas and the CEFC emerged from this evaluation process as an attractive offering, representing a substantial cost saving relative to the Nordic Bond. Importantly, it will deliver Pilbara Minerals with an extended grace period before quarterly principal repayments commence in September 2022, providing the company with greater flexibility to manage its cash flows during the current soft market conditions, which have been exacerbated by the COVID-19 pandemic. The CEFC has been a strong supporter of Pilbara Minerals and the Pilgangoora Project, having established itself as the cornerstone investor to the initial project financing through its USD 15 million contribution to the Nordic Bond.