Michael Hill announces ANZ to extend its core debt facilities

Company News

by Anna Napoli

Michael Hill (ASX:MHJ) has entered into an Amendment and Restatement Deed (Amendment Deed) with ANZ to secure an extension of its core debt facilities.

The Jewellery retailer says the facilities are made up of a multi-option facility with a varying limit from $70 to $110 million.

There will also be various operational facilities with a combined limit of about $20 million.

The company says the key variation to the existing facility is the extension of the maturity date to September 2021.

Last week the company announced it would close all Emma & Roe stores and its online presence

Shares in Michael Hill (ASX:MHJ) down 2.04 per cent to 96 cents.
 

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.