Coventry Group (ASX:CYG) replaced its AU$55 million borrowing base facility with a new revolving cash advance facility with National Australia Bank (ASX:NAB), maturing on July 31, 2027, according to a Tuesday Australian bourse filing.
The change is intended to simplify administration and enhance covenant flexibility, with the new facility operating alongside the company's existing AU$18 million amortising term loan and AU$5 million multi-option facility, the filing added.
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