Emeco Completed the  Refinance of US$180 Million of Notes

  • Sep 16, 2020 AEST
  • Team Kalkine

Emeco Holdings Limited (ASX:EHL) has completed the  refinance of US$180 million 31 March 2022 notes related to the privately negotiated arrangements with certain major noteholders. The new note has a maturity of 31 March 2024 notes.

As per the terms of the 2024 Notes, EHL’s net leverage is below 1.5x. There is no cash sweep and restrictions on distributions to shareholders have been relaxed. These changes considerably improve the Company’s flexibility to handle its capital going forward.

The repayment of 2024 Notes can be done at 104.625 any time before maturity and otherwise have materially the same terms as the 2022 Notes.





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