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."

Follow Us

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags NABasgASG chief financial officerDean Langerbach


Brand Post

Show Comments