Shares of Michael Hill International (ASX:MHJ, NZE:MHJ) rose around 3% on New Zealand's Exchange in recent Monday trade after it said in a late Friday Australian bourse filing that it had successfully refinanced its debt facility on improved margins, extending the term by two years to Aug. 31, 2028, subject to customary conditions precedent.
The company's debt facility, previously funded by its long-term banking partner ANZ Group Holdings (ASX:ANZ, NZE:ANZ), now also includes a new lender, Commonwealth Bank of Australia (ASX:CBA), the filing said.
The company's current facility limits remain unchanged, comprising a AU$90 million core facility and a AU$20 million seasonal uplift for four months, with all subsidiaries guaranteeing its obligations, per the filing.