AFT Pharmaceuticals (ASX:AFP) on track to refinance loan

Company News

by Rachael Jones

AFT Pharmaceuticals (ASX:AFP) says its six-year term loan facility from CRG maturing on 31 March 2020 is on track to be refinanced with a three year term loan from a local commercial bank.

Committed term sheets have been entered into and the parties expect the agreements to be finalised shortly.

AFT expects its new facilities will result in total finance cost savings of more than $2 million per year over the term of the loan, which is due to begin at the start of the new financial year.

Shares in AFT Pharmaceuticals (ASX:AFP) last traded at $3.10 on 20 Feb.