Notably, the agreed interest rate is lower than under the existing facilities, demonstrating Ausdrill’s enhanced credit profile and ongoing support shown by the mining services company’s financiers.
Capitalising on growth opportunities in line with strategy
Ausdrill chief financial officer Peter Bryant said the facilities provided Ausdrill with flexibility to capitalise on growth opportunities in new markets where Ausdrill has a competitive edge or by expansion into adjacent services that complement its existing portfolio.
Bryant said: “We are delighted to have secured strong support for our refinancing with an extended term and a notable reduction to the interest rate that had applied under the previous revolving credit facilities.
“This refinancing ensures the company maintains significant headroom and flexibility to support growth opportunities in line with our strategy for the new Ausdrill group.”