HMY signs A$20m corporate debt facility

Harmoney Corp Limited (ASX/NZX: HMY) has signed a A$20 million corporate debt facility to support loan book growth in Australia.

The facility, arranged and funded by OneVentures and Viola Credit, has an initial tranche drawdown of A$10 million, with the remaining two tranches drawable over the next nine months.

The facility is structured with 60% as term notes and 40% as convertible notes with an exercise price of A$2.40.

This provides Harmoney with the necessary capital to fund the junior notes in its warehouse funding structures, underwriting significant further growth in receivables without the need for Harmoney to contribute further equity.