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Company News Summary

Domain Holdings Australia Provides Update on Additional Debt Facility and Other Responses to COVID-19

27 Apr 2020  |  08:21:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Additional debt facility and other responses to COVID-19

Domain Holdings Australia announced an agreement with its banking group for an additional debt facility and financial covenant waivers for June 2020 and December 2020, and an update on the implementation of cost initiatives to manage the potential impact of the COVID-19 coronavirus. The Company has strengthened its liquidity position by reaching agreement with its banking group for a new debt facility of $80m, with a term of 18 months. The facility is in addition to the $225m facilities announced to the market on 8 November 2019, with terms of three and four years. The Company's banking group has also agreed to a waiver of the group's financial covenants as at June and December 2020.

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