White & Case advises ATOME on US$650 million green hydrogen-based fertilizer plant in Villeta, Paraguay

Global law firm White & Case LLP has advised ATOME PLC on the signing of debt financing documents for a US$420 million total debt package with respect to the US$650 million landmark, 260,000 tons-per-year, green hydrogen-based fertilizer plant at Villeta, Paraguay (Villeta).

Villeta is a first-of-a-kind project that will produce calcium ammonia nitrate fertilizer from green hydrogen made from a low fixed-cost long-term supply of renewable power and without the need for fossil fuels. Villeta is situated in the middle of one of the largest fertilizer markets in the world, and will benefit from a long-term take-or-pay offtake agreement for all of its production from Yara International with price-protection mechanisms and premium upside potential.

ATOME is a leading low-carbon fertilizer developer and the UK's only dedicated international industrial-scale low-carbon fertilizer company.

The White & Case team was led by Project Development and Finance partner Martin Menski (Washington, DC), with financing aspects led by Project Development and Finance partner Thomas Pate (New York) and the equity arrangements by M&A partner David Lewis (London). The team also included Project Development and Finance partners Peter Berg (Houston) and Evelyn Balassiano (New York), local partner Ryan Gawrych (London) and associates Flannery Sockwell (Washington, DC), Joan Martinez (New York), Rodrigo Vieira (São Paulo) and Rebecca Vasilas (New York); Employment, Compensation & Benefits partner Nicholas Greenacre and counsel Samuel Marriott (both in London); Litigation partner Stephanie Stocker (London); and M&A associates Gokcen Durgut (London) and Sofia Rautavuori (London).

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