Schoolblazer's Uniform Business Secures AU$110 Million Debt Facility From Westpac
MT Newswires Live
Jun 24
Schoolblazer's (ASX:SBZ) uniform business division secured a conditional AU$110 million trade finance and term debt facility from Westpac Banking (ASX:WBC, NZE:WBC), according to a Wednesday filing with the Australian bourse.
The agreement includes AU$45 million in term debt facilities with a five-year tenor and a seasonal trade finance facility of up to AU$65 million on "competitive market terms," per the filing.
The company said the new facility will replace the uniform business' fragmented legacy debt arrangements with a single facility that has capacity for growth.
Westpac Banking's Australian shares were up 1% in recent Wednesday trade.
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