EHL has relesed an announcement:looks positive days...

EHL has relesed an announcement:
looks positive days ahead:

Successful Debt Refinancing
Emeco Holdings Limited is pleased to announce that it has successfully executed a 3 year $630 million senior debt package comprising a $595 million revolving senior debt facility and $35 million working capital facility.
This refinancing will replace the group’s existing $515 million debt facilities which were to mature within the next 12 months. The banking syndicate comprises 8 domestic and international banks led by Westpac, CBA, Bank of Scotland International and ANZ.
The senior debt facilities will be used to fund the group’s existing businesses and the additional facility headroom, together with the company’s strong operating cash flows will be used to fund growth opportunities over the next 3 years.
Emeco CEO Laurie Freedman said “Securing the new debt facility at the pricing levels achieved, in such a challenging credit market, is an indication of the underlying value of the Emeco business and acknowledgement of our prospects for the future.”
We will continue our strategic focus on extracting greater returns from the current invested capital, while predominately pursuing value adding organic growth opportunities within our existing regions and markets.”
As a result of the refinancing, Emeco’s effective cost of debt will increase by approximately 130bps from current levels which the Company considers reasonable in the current credit market environment.