Viva Leisure Secures Additional Financial Support from CBA

1 min read | April 15, 2020 12:33 PM AEST | By Team Kalkine Media

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Viva Leisure Limited (ASX: VVA) has agreed and signed new terms from its primary financier, Commonwealth Bank of Australia (ASX: CBA).

Key Terms:

New $6 million overdraft facility is now available that would provide additional support.
Deferral of all equipment finance payments for 6 months, with interest, capitalised and amortised over the remaining terms of the deals.
Deferral of principal repayments on current bank facilities for 6 months, a cashflow benefit of ~$400,000 each quarter.
Postponement of banking covenants compliance testing until 31 December 2020.

At AECT 11:53 AM, VVA shares are trading at $1.73, up 9.494% from its previous close.

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