ALS (ASX:ALQ) has completed the refinancing of its existing bank debt facilities by implementing a series of new committed multi-currency bilateral revolving credit facilities totaling US $300 million
The analytical testing services provider says the new revolving credit facilities will replace the maturing bank facilities totaling US$40 million.
The new facilities are all for a three year term and will provide ALS with funding flexibility to cover the upcoming maturity of US private placement notes as well as for acquisitions.
The company says it's pleased to have completed the refinancing process and to have secured long term relationships with five major banks.
Shares in ALS (ASX:ALQ) are trading 0.24 per cent higher to $8.21.