ASG shoulders $38 million of debt in NAB refinancing deal

ASG shoulders $38 million of debt in NAB refinancing deal

Includes multi-option facility of $17 million and corporate flexi-loan of $21 million

IT solutions provider ASG has entered a $38 million debt agreement with NAB after a competitive tender with a number of banks.

The ASX-listed company has announced acceptance of a letter of offer from NAB to refinance the group's debt facilties.

The bank has provided funding of $38 million, including a multi-option facility of $17 million and a corporate flexi-loan of $21 million.

ASG have also received an improved long term borrowing rate from NAB, according to a company statement.

The corporate flexi loan is repayable at $4 million per annum and expires five years from the initial drawdown, on December 31, 2019.

ASG chief financial officer, Dean Langerbach, said the new agreement gave the company a strong financial base that was reflective of ASG's solid growth over the past few years.

"We have in place a longer term agreement with more attractive rates, which is a great outcome for us."

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Tags ASG chief financial officerDean LangerbachasgNAB

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