Superloop to raise $90 million and recapitalise existing senior debt

Company News

by Anna Napoli

Superloop (ASX:SLC) has announced a $90 million equity raising at a price of 82 cents a share.

The price represents an 18.8 per cent discount to the closing price of Superloop shares on 20 September 2019.

The capital raising will be conducted via a $55 million institutional placement and a $35 million 1-for-6 accelerated non-renounceable entitlement offer.

The proceeds of the Equity Raising will be applied principally to pay down senior secured debt.

Shares in Superloop (ASX:SLC) are on the trading halt and last traded at $1.01.

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.