Austin Engineering (ASX:ANG) Renews Global Debt Facility
Financial Update
Austin Engineering has renewed its global debt facility with HSBC Bank Australia Limited, increasing the total limit to approximately $57 million. The updated facility supports the company’s capital and growth needs, with no change to pricing.
Facility Details
The renewed facility includes a multi-option facility of $22 million, a term loan facility of $30.75 million, and balance for assorted transaction negotiation authority and credit card facilities. The term runs to 30 November 2026, with the term loan repaid as a variable amount each quarter and a residual $14 million balloon payment. Austin provided security over its Indonesian subsidiary’s assets to support the increased limit.
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