BNZ Loan Facility Increase

GENERAL

Thu, Apr 17 2025 08:30 am

AoFrio has accepted an offer from the BNZ of a $5 million increase to its trade finance facility to provide working capital flexibility. The facility limit increases to $10 million. There is no change to interest rate margins. Banking covenants remain the same except that they are required to be tested 6 monthly (at half year and year end) instead of annually (at year end).

At 31 March 2025, cash at bank was $4.6 million and the BNZ trade finance facility was drawn to $3.9 million.

John Scott, Chair of AoFrio says, “The facility increase offer confirms the strong support AoFrio is receiving from the BNZ, which is pleasing.”