Aventus Completes $200m Refinancing
Aventus Group announced this week the successful completion of a $200 million debt refinancing.
The existing $200 million debt facility expiring in October 2020 has been replaced with new facilities maturing in October 2023. Aventus now has no debt maturing until May 2022.
As a result of these initiatives Aventus’ weighted average debt expiry will increase from 3.6 years to 4.4 years as at 1 April 2019.
There was no indications as to the pricing of the finance however Aventus advise that there is no change to the FY19 earnings guidance that has been provided to the market.
Aventus CFO Mr Lawrence Wong commented: “This latest round of refinancing has significantly extended almost a quarter of Aventus’ loan book and ensures we have no debt expiring in the next 3 years. The new facilities are on competitive terms and demonstrate strong financial support from our lenders”.