Hills Limited (ASX: HIL) is pleased to announce that it has signed new finance facilities for the Group’s long term financing requirements. The new facilities, which will replace Hills existing arrangements, will become operative on the satisfaction of usual conditions precedent which need to be satisfied by different parties.
The new facilities
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comprise a $36 million, 5-year debtor finance facility originated through Assetsecure; and
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a $15 million, multi-tranche senior secured debt facility from the Commonwealth Bank of Australia ($10 million for 18 months and $5 million for 12 months).
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