Argo Investments (ASX:ARG) has increased and extended its syndicated bank facilities to NZ$625 million with ANZ Bank New Zealand, Bank of New Zealand, Commonwealth Bank of Australia, Westpac New Zealand, and Industrial and Commercial Bank of China.
As part of the updated agreement, the total value of Argosy's bank facility has risen by NZ$100 million to NZ$625 million.
It also established a new NZ$100 million tranche, tranche C, which carries a seven-year term and matures in July 2032.
The company's other tranches have also been extended, with tranche A valued at NZ$200 million and now expiring in October 2028 and tranche B of NZ$225 million and maturing in October 2029.
Tranche D, worth NZ$100 million, has a new maturity date of Oct. 2030.
The company's shares fell nearly 1% in recent Thursday trade.
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