VTL confirms extension of existing corporate debt facility
GENERAL
Mon, Jun 19 2023 01:31 pm
19 June 2023
Vital confirms extension of existing corporate debt facility
Vital Limited (VTL), a specialist radio and fibre network services provider advises that its banking facility with Bank of New Zealand (BNZ) has been renewed for a further one year term, to January 2025.
The renewal follows an 8% or $1.1m net debt reduction during FY22 and reflects part of Vital’s ongoing performance reset to deliver a stronger and more sustainable financial foundation for shareholders.
Under the renewal the facility limits remain unchanged, with only minor amendments to terms and covenants.
The pricing (i.e. the margin over base rate) is also unchanged.
For further information please contact:
Jason Bull
CEO
027 497 4548
ENDS
Announcement PDF
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