Hi guys,
Hopefully someone here will be able to help me out on this one.
Been reviewing the half yearly result and I am looking for information on why Resmed has gone to the effort of increasing their credit facility from ~300m to ~430m.
I understand that it is US debt and due to the quality of the companies balance sheet and earnings power that the interest rate is rock bottom low at 1.2%...but with the cash balance approaching $1bn what is the need for this?
Is this a case of getting the bankers on their side in case of future need?
Time to do a bit more digging...
tanking, page-18
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