Originally Posted by
iceman
My highlighting !
GENERAL: SEK: Seeka secures additional banking facilities
Seeka Limited [NZX:SEK] advises that it has successfully negotiated an
improved funding facility with a syndicate of banks to support Seeka's
continuing growth.
The syndicate led by Westpac includes ASB, Rabobank and BNZ and provides
facilities of NZD$190 million, up from the previous facility limits of
approximately NZD$152million.
Seeka advises that there was excellent demand from banks to provide debt
facilities to the company. Whilst borrowings will not increase immediately,
the increased facility will support the near term growth of the group
including capital expenditure to support anticipated volume increases and
potential acquisitions.
Seeka thanks the Westpac (Lead Arranger) and Harmos Horton Lusk (legal
adviser) and management for achieving a satisfactory refinancing outcome.