PERTH (miningweekly.com) – Freight operator Aurizon has executed a A$1.3-billion debt refinancing, securing an additional A$420-million in funding compared with its existing facilities.
Aurizon said on Wednesday that as part of the new debt facilities, the existing syndicated debt facilities which mature in 2021 and 2022, will be repaid and cancelled, with the new bank facilities maturing between 2023 and 2025.
“The refinancing was very well supported by Aurizon’s relationship banks and included the addition of two new lenders. The facilities are bilateral in nature which provides greater flexibility for future funding requirements,” said Aurizon acting CFO George Lippiatt.
“Our commitment to a long-term funding strategy of diversifying sources and lengthening of tenors remains,” he added.
With the refinancing, Aurizon would have more than A$1.1-billion of available liquidity, and after the maturity of a A$525-million medium term note in October, it would not require further refinancing until 2023.