Dicker Data secures $20 million from Macquarie Bank

The finance facility will be used to purchase HP inventory and help fund future growth

Dicker Data has secured an agreement with Macquarie Bank for a new $20 million inventory purchase finance facility.

Under the agreement, the facility enables Dicker to purchase inventory from HP, which is its largest vendor. The arrangement was reached after a comprehensive review and analysis of Dicker’s requirements and to help raise additional working capital.

It will also enable Dicker to achieve greater flexibility in inventory purchases, including the opportunity to take greater advantage of early settlement discounts and complements the trade credit facility available to Dicker from HP.

It will also help fund future growth in Dicker’s revenues and inventories as well as return a significant portion of all generated profits to shareholders in accordance with the dividend policy.

According to the statement on the ASX, the facility may also be extended to include purchases from Dicker’s other vendors down the track.

At the time of publication, Dicker’s shares were trading at $0.84, a significant increase from its opening price of $0.21 in January 2011.

2015 State of The IT Channel Survey : IT'S TIME!!! Fill in this year's State of the IT Channel Survey and be in the running to win great prizes. CLICK HERE

Join the ARN newsletter!

Error: Please check your email address.

Tags Macquarie BankDicker Data

More about Dicker DataHPMacquarie Bank

ARN Directory | Distributors relevant to this article

ARN Directory | Vendors relevant to this article

Show Comments
 

Latest News

Mar 27
AppSense takes the wraps off its new analytics platform
Mar 27
SugarCRM beefs up its global executive team with three new hires
Mar 27
'Do Not Call' spam phone call legislation passed
Mar 27
HubOne lands its first channel partnership in Australia
More News
30 Mar
Australian experts to address cybersecurity challenges and solutions at Canberra...
21 Apr
APJ Progress Spark Conference
22 Apr
2015 Innotribe Startup Challenge
27 Apr
Disruptocon
View all events