Eureka Group Holdings (ASX:EGH) refinanced and upsized its existing AU$101 million debt facilities into a AU$180 million multilateral facility provided by National Australia Bank (NAB) and Westpac Banking, according to a Thursday filing with the Australian bourse.
The upsized facility is split into periods of three, five, and seven years. It also has an annually renewable AU$5 million working capital facility. The loan bears a maximum loan-to-value of 55% and an interest coverage ratio above 2 times.
As a result of its upsized loan, Eureka has repaid its existing facility of AU$49.5 million with NAB.
PwC Debt & Capital Advisory and Dentons were Eureka's advisers related to the transaction, while King & Wood Mallesons advised the lending firms.
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