Nufarm Limited
(ASX:NUF) has completed the refinancing of its syndicated banking facility, which will fund the company’s working capital requirements.
The company expects the facility will be available before the end of the 2013 calendar year.
The previous facility was due for renewal in November 2014, however Nufarm says it took advantage of what it judged to be advantageous market conditions.
The facility provides committed funding of up to $530 million, an increase on the $406 million limit under the previous arrangement.
Nufarm generated a net profit of $81.7 million in fiscal 2013.
