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.
About MNF Group Ltd
MNF Group Limited (ASX:MNF) is one of Asia-Pacific's fastest growing technology companies. Listed on the ASX since 2006, it is now capitalised at around $350M, and twice winner of the Forbes Asia-Pacific "Best under a Billion" award. Headquartered in Sydney, Australia, the company has over 500 people located across Asia-Pacific, Europe and North America. MNF develops and operates a global communications network and software suite enabling some of the world's leading innovators to deliver new-generation communications solutions.
As the world moves to IP, MNF Group is building the brands, services, network and technology to lead the way.
For further information about MNF Group Limited please visit: http://mnfgroup.limited/
Executive Assistant to CEO / CTO
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