Elders Limited (ASX:ELD) notified the market that it had agreed to partially refinance its debt facilities with its existing financiers. ELD mentioned that refinancing will help the Company to arrange for extended tenor and additional committed head room.
Refinance package will provide the following:
- For the ELD’s debtor securitisation program, 12-month extension in tenor from December 2020 to December next year. Also, an increase in the committed limit to $200 million from $120 million.
- A new $50 million and 2-year commitment for working capital facilities.
The Company stated that it continues to have its existing syndicate relations with NAB, Rabobank, and ANZ.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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