Rubicon extends bank financing agreement

Rubicon has extended its bank financing agreement with ANZ National Bank to July 2013 and increased the facility size to $US20 million.

Rubicon chief executive Luke Moriarty said the debt refinancing of the company and its subsidiaries had now been completed.

That followed the extension to the ANZ facility, and the establishment of a new five-year $US57.5m syndicated financing facility plus an additional $US12.5m accordion feature by wood products company Tenon, in which Rubicon has a 58 percent stake.

With that behind Rubicon, and with the agreement of partners in tree improvement and production business ArborGen to fund ArborGen's development programme by another $US15m this year, Rubicon was now far better placed to ensure it could extract value for shareholders from its two core investments, Moriarty said.

NZPA

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Comvita appoints Andrea Wilkins as Chief Marketing Officer
Synlait provides banking facilities update
CHI - Channel Infrastructure delivers solid FY25 financial result
February 27th Morning Report
TRU - Results Guidance FY2026
TRU - Results Guidance FY2026
MEE - Me Today announces six-month results to 31 December 2025
HGH - Heartland announces 1H2026 result
BRW - FY26 Half Year Results Announcement
February 25th Morning Report