Altech Batteries (ASX:ATC) has entered into a bond note subscription deed with its shareholder, Deutsche Balaton, to support the ongoing development of its Cerenergy and Silumina Anodes battery projects, according to a Tuesday filing with the Australian bourse.
The deed will allow the company to draw up to 2.5 million euros in interest-bearing Bearer Bonds, with a 7% annual interest rate, the filing said.
The funds will be drawn in installments, and repayment is due by Oct. 31, 2026, the filing added.
ATC has also agreed to sell its land in Johor, Malaysia, to fund the bond repayment, the company added.
Shares of the company fell 2% in recent Tuesday trade.
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