Duxton Water (ASX:D2O) said it had settled AU$121 million of its AU$121.3 million sale of 30,614 megalitres of high and general security water entitlements to the Australian Government, according to a Thursday filing with the Australian bourse.
The remaining AU$300,000 is expected to settle next week, the filing said.
Proceeds from the sale have been used primarily to repay AU$108 million in debt facilities, reducing the company's net loan-to-value ratio to about 3%, the filing added.
The balance will be used for tax obligations related to the sale and other operating expenses, the company said.
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