Ecofibre Limited (ASX:EOF) Restructures Australian Loans
Financial Restructuring
Ecofibre Limited has reached agreements with two unsecured Australian lenders to extend the terms of its loans, aiming to improve its balance sheet and ensure more sustainable financial performance.
Loan Details
With James & Cordelia Thiele Trust Fund, the existing AUD7.0m loan was partially repaid in January 2025. The new facility amount is AUD6.5m at a 14% interest rate, with principal payments spread over three years ending in January 2028. The loan rate may increase if the RBA cash rate exceeds 5%.
Ecofibre has also extended the AUD3.5m loan with Lambert Superannuation Fund to a 10% interest rate. Principal repayments will be AUD10,000 per month from April to June 2025, followed by AUD30,000 per month until fully repaid.
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