BINGO Industries Secures Refinancing of A$500m Debt Facility

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BINGO Industries Secures Refinancing of A$500m Debt Facility

BINGO Industries Limited (ASX:BIN) disclosed that the Company had secured the refinancing of its almost A$500 million Syndicated Facility Agreement. This refinancing was due to mature on 31 August 2021.

The Company said new Syndicated Facility Agreement closed oversubscribed, with tenor rose to a term of four-year.

Moreover, BINGO mentioned that its year to date performance remains to track mostly in-line with observations that were made on 25 August 2020, with solid volumes continuing into September 2020 in BIN’s Post-Collections business.

The Company stated that its key Post-Collections business accounts for almost 72% of Group EBITDA and has continued its robust momentum in volumes during the first quarter of FY21.

On 8 October 2020, the share price of BIN was noted at A$2.715 up by 1.306% at AEST 01:16 PM.

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