Subscribe to RSS feedAsciano debt deal clears decks for new strategies
by
Rob McKay
—
last modified
Dec 24, 2009 11:56 AM
ASCIANO has paid off debt due in May and will have no further repayments for 30 months, the rail and ports firm said this week after a deal with its banks.
The new agreements will leave the company with $846m in undrawn balance as of November 30, giving it “significant financial flexibility to pursue [its] strategy”.
The new facilities comprise a $500m revolving credit facility, a $140m working capital facility (both...
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