Perenti Global (ASX:PRN) - CEO & Managing Director, Mark Norwell
CEO & Managing Director, Mark Norwell
Source: Mark Norwell/LinkedIn
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  • Perenti Global (PRN) secures a new $420 million syndicated debt facility, effectively refinancing its existing facilities due to mature in 2023
  • In completing the debt refinancing, the company has introduced new partners and diversified its existing banking relationships, establishing a syndicate with leading banking capabilities across the markets
  • Under the terms, Perenti will be able to provide capital flexibility to continue pursuing strategic initiatives without impacting its ability to deliver on its leverage target of less-than-one by 2025
  • Further, the facility provides a prudent spread of maturities with tranches comprising two, three, four, and five years, enabling Perenti to actively manage potential refinancing risk
  • Shares in Perenti have ended the day up 5.04 per cent at 62.5 cents each

Perenti Global (PRN) has secured a new $420 million syndicated debt facility which successfully refinances its existing facilities due to mature in 2023.

In completing the debt refinancing, the company has introduced new partners and diversified its existing banking relationships, establishing a syndicate with leading banking capabilities across the markets.

Under the terms of the new facility, Perenti will have the capacity to provide capital flexibility, access to liquidity and funding headroom to continue pursuing strategic initiatives without impacting its ability to deliver on its leverage target of less-than-one by 2025.

Managing Director and CEO Mark Norwell said the facility supports Perenti’s updated 2025 strategy and confirmed the strength of the business.

“This facility provides Perenti with a significant amount of flexibility and underpins our liquidity position to enable us to continue to deploy capital, in-line with our Capital Management Policy.”

Further, the facility provides a prudent spread of maturities with tranches comprising two, three, four, and five years, enabling Perenti to actively manage potential refinancing risk.

Shares in Perenti were up 5.04 per cent at market close to end the day at 62.5 cents.

PRN by the numbers
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