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Ausdrill Announces to Complete Refinance of $300m Revolving Credit Facilities

23 Apr 2019  |  11:41:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: ASL Completes Refinance of $300m Revolving Credit Facilities

Ausdrill announced that it has successfully refinanced its revolving credit facilities. The Company updated that the new facilities, provided on a bilateral basis by HSBC, Standard Chartered Bank, Nedbank, Caterpillar Finance, Deutsche Bank and Goldman Sachs, maintain an aggregate limit of A$300m with the term extended by 4 years (maturing on 1 July 2023). As reported, the interest rate agreed is lower than under the existing facilities, demonstrating the Company's enhanced credit profile and the strong and continued support shown to the Company by its financiers. The Company further updated that the facilities provided them with flexibility to capitalise on growth opportunities in new markets where it has a competitive edge.

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