Sharechat Logo

EROAD Completes Refinancing of Debt Facilities

Monday 28th March 2022

Text too small?

Transportation technology services company EROAD Limited (NZX/ASX: ERD) (EROAD), with its purpose of safer and more sustainable roads, today announced it has refinanced and increased its debt facilities.

EROAD has entered into a three-year debt facility with ANZ and Bank of New Zealand. Total committed syndicated facilities amount has increased from $59.9 million to $90 million which includes $30 million of term debt, $55 million revolving credit facility and a $5 million working capital facility.

EROAD’s CEO Steven Newman commented that "EROAD is entering into a period of significant growth. This refinancing and the amortisation profile gives us extra flexibility to support organic growth over the coming years”

The new facility is predominantly for the purpose of funding future organic growth capital requirements. In addition, amounts drawn under previous facilities have been refinanced into new term debt facilities. Amounts drawn under existing facilities on the date of refinancing amounted to $29.9 million.

Ends



  General Finance Advertising    

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.

Related News:

AIA - launches retail bond offer and wholesale bond offer
WCO - Settlement of Navaa Holdings Investment Stage 1
Devon Funds Morning Note - 04 November 2026
MFB - My Food Bag completes review and confirms plan
PEB - Interim Financial Result to be Announced 24 November 2026
November 4th Morning Report
November 3rd Morning Report
LOC - Bitcoin Holding Converted to Cash
CEN - Contact launches green Capital Bond Offer
Anthropic asks investors to trust it won't do evil