Tegel owner refinances $268 mln of debt, lifts annual sales by 8.8%

Jonathan Underhill
Mon, 05 Oct 2015

By Jonathan Underhill Oct. 5 (BusinessDesk) - The parent company of Tegel Foods, New Zealand's largest poultry business, has refinanced $268 million of debt into new three-year bank loans, although its chief executive declined to take questions on whether the change would reduce its $35 million of annual finance costs. Ross Group Holdings refinanced $204 million of bank borrowings, $67.9 million on a mezzanine facility and settled interest rate swap contracts on Aug. 7, after its April 26 balance date, according to the company's annual re...

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