Monday 19th July 2021 |
Text too small? |
TIL Logistics Group Limited is pleased to confirm the re-establishment of its relationships with ANZ Bank New Zealand Limited and UDC Finance Limited as its financing partners going forward.
New facilities with ANZ and UDC Finance Limited will be used to replace TLL’s existing bank debt to ASB Bank Limited, and for general corporate, vehicle finance and working capital requirements.
The new funding arrangements offer improved terms and a longer tenure.
Chairman Trevor Janes commented: “ANZ was TIL’s banking relationship historically before the public listing in 2017 and has a deep understanding of the industry and the company. We are pleased to be partnering with them as we work towards achieving our goal of being one of the leading transport and logistics providers in New Zealand and beyond.”
The new facilities include:
• A term debt facility with ANZ of $27.5 million for a three year term, which amortises at the rate of $3.75 million per annum (unless agreed otherwise) as well as other ancillary banking facilities; and
• An asset finance facility with UDC of $37.5 million for a five year term.
Please see the link below for details
TIL Logistics refinancing bank debt; entry into new facilities
Source: TIL Logistics Group Limited
No comments yet
NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024