Sigma signs $500 million receivables purchase agreement with Westpac

Company News

by Anna Napoli

Sigma Healthcare (ASX:SIG) has announced that it has established a new $500 million receivables purchase agreement with Westpac.

The agreement will provide the company with significant additional funding options to continue its investment program and pursue future growth opportunities.

The new three-year agreement will be split into three tranches and will amortise in line with Sigma's expected return of working capital from the exit of the My chemist/Chemist Warehouse contract.

Sigma says the new facility provides it with a strong funding platform for the next stage of the company's corporate transformation.

Shares in Sigma Healthcare (ASX:SIG) are trading 1.7 per cent lower at $0.57.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.