Not likely, IMO. ICL raised $275 million in ~10 year debentures (eg. unsecured) late last year at LIBOR + ~2.3%. 1 year LIBOR rate is hovering around 55 basis points. In other words, they're getting 10 year financing for less than 3%. It was also over-subscribed.

Allana will be extremely lucky to get financing at less than double what ICL can get it at.

http://repo.icl-group.com/Lists/ReportsManagement/Immediate%20Reports/2013/Raising%20$%20275%20Million%20Through%20a%20Private%20Placement%20of%20Debentures%20in%20the%20US%20-%20November%207,%202013.pdf

Don't expect a post-financing buy out. There's a reason the ICL warrants have a 3 year exercise window. That gives 1 year for financing + 2 years for construction.

How many big capital projects run over budget? Most of them. The earliest I see a buy out happening is 6 months before ICL's warrants expire - or about two years from now. That should coincide with the last leg of construction at which point construction risk (mainly cost, but also technical) should more or less be known.