Imdex (ASX:IMD) secured new debt facilities to increase its available funding capacity to AU$350 million, with AU$64 million drawn at financial close to extinguish the pre-existing facilities, according to a Tuesday Australian bourse filing.

The company IMDEX has entered into binding agreements with four lenders, including the existing financiers, J.P. Morgan and HSBC, as well as new lenders, National Australia Bank (ASX:NAB) and Westpac Banking (ASX:WBC, NZE:WBC) for debt facilities consisting of multicurrency, multi-option bilateral debt instruments for cash advances and contingent instruments with a four-year term, extendable upon request.

The company said it is leveraging its balance sheet to support growth and return to net cash as soon as possible, while continuing to invest approximately 8% to 10% of revenue in research and development, and delivering a 30% normalized net profit after-tax dividend payout ratio.