TIL Logistics switches banks

Mon, 19 Jul 2021

TIL Logistics said it has changed banks and taken out new facilities with ANZ Bank and its former subsidiary UDC Finance to replace its existing facilities with ASB Bank.It has taken a three-year term loan of $27.5 million that will amortise at the rate of $3.75m per year, unless agreed otherwise, as well as other ancillary banking facilities.It has also taken a five-year $37.5m asset loan from UDC.The new facilities "offer improved terms and a longer tenure", the company said."ANZ was TIL's banking relationship historically...

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