Tenon expands banking facility with more favourable rates

Sun, 03 May 2015

By Paul McBeth May 4 (BusinessDesk) - Tenon, whose locally produced wood mouldings are sold in the US, has expanded its banking facility by US$5 million with greater flexibility and more favourable rates. The Taupo-based company today agreed amendments to its syndicated bank facility to expand its credit line to US$75 million from a previous US$70 million, it said in a statement. The five-year facility expires in May 2020 with better funding rates and more flexibility relating to shareholder distributions. "That we have been able to fa...

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