The Board of Australian communications software specialist MNF Group (ASX:MNF) is pleased to announce it has completed the refinancing of its debt facility. The new revolving facility provides better terms, more relaxed covenants, better pricing and importantly, requires no amortisation during the life of the facility.

The company's balance sheet will be significantly strengthened as a result of the new financing structure.

The new secured club facility, with Westpac and HSBC Australia, has a limit of $60.0m, of which $45.0m has a 3 year tenor and $15.0m has a 5 year tenor. The new facility also includes access to an additional $20.0m through an accordion facility, subject to certain terms and conditions.

MNF is pleased to welcome HSBC as a new banking partner and wishes to thank Westpac for its continued support.

MNF has drawn a total of $55.6m from its debt facility with funds put against the recent acquisition of the In-A-Box business, and previous acquisitions. The company's net debt is $44.0m.


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Contact

Miki Kando
Executive Assistant to CEO / CTO
T: +61 2 8008 8231
E: miki.kando@mnfgroup.limited



Link: MNF Refinances Debt Facility


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