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Reece Announces Successful Completion of Debt Refinancing

15 Dec 2021  |  10:10:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Successful completion of debt refinancing

Reece announced that it has successfully refinanced its existing debt facilities with A$1.25bn of syndicated multi-currency revolving facilities. These new facilities will be used to fully refinance the Group's current secured term loan and revolving facilities (provided under a syndicated facility agreement dated 2 July 2018) and provide ongoing working capital support to the Group's Australian, NZ and US operations. The new arrangements provide the Group with diversity of maturity dates, reduced interest expense and flexibility to draw down in either Australian or US dollars.

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