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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.