Locality Planning Energy Secures AU$7.2 Million Banking Facility with Westpac, Shares Up 12%

MT Newswires Live

08/07

Locality Planning Energy Holdings (ASX:LPE) entered a AU$7.2 million secured banking facility with Westpac Banking (ASX:WBC, NZE:WBC) across three tranches, according to a Friday Australian bourse filing.

The banking facility is structured as a AU$3 million project funding facility, a AU$3.7 million line of credit, and a AU$500,000 revolving equipment finance facility.

The banking facility will consolidate the firm's existing facilities into a single arrangement and support its working capital requirements.

Its shares rose 12% in recent trading on Friday.

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