Argosy has announced it has extended $215 million of its existing syndicated bank facilities with ANZ Bank of New Zealand Limited, Bank of New Zealand Limited, Hongkong and Shanghai Banking Corporation, Commonwealth Bank of Australia and Westpac New Zealand Limited.
The total amount of the bank facility has also reduced by $35 million and is now $455 million, down from $490 million previously.
Argosy’s total funding tenor (including green bonds) is currently 4.1 years.
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The business is reportedly being hit hard by increasing air freight industry competition.
The S&P/NZX 50 Index rose 97.07 points, or 0.8%, to 12,447.68.
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