PBD Developments Limited
(ASX:PBD) says it has managed to secure a second loan agreement worth $11 million with AP Finance.
Terms and conditions for the loan are the same as the loan agreement it replaces taking the total unsecured loan facility to $22 million.
The funds will be used to pay down existing debt.
In its annual report the developer said it hopes to return to profitability sometime in the current financial year.
PBD made a net loss of $14.9 million in the 2015 financial year.
