Ausdrill Limited
(ASX:ASL) announced a successful $125 million debt refinancing as well as securing a new dual currency debt facility.
A number of leading lending institutions got behind the new debt facility which matures in March 2018. The facility will allow the company to refinance all amounts outstanding under the company’s existing $300 million debt facility effectively reducing the facility by nearly 60 per cent.
Finance charges will reduce by $2.2 million and the refinancing allows the company increased flexibility and headroom to meet capital expenditure requirements.
Ausdrill CFO Jose Martins said both new and existing lenders recognised Ausdrill’s conservative approach to debt and that was reflected in their strong support for the new deal.
Ausdrill Limited
(ASX:ASL) reported a $43.9 million net loss for the 2014 financial year.
