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ALS LIMITED — Capital/Financing Update 2021
May 9, 2021
64365_rns_2021-05-09_97d3d5d2-39a4-4ee6-94ad-a3bf5416d5a3.pdf
Capital/Financing Update
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asx/media release
10 May 2021
Agreement to refinance bank debt facilities
ALS Limited (ASX: ALQ), today announced that it has agreed to refinance its existing bank debt with new, multi-currency revolving facilities totalling $US350 million.
A geographically diverse selection of banks will provide the new facilities, including Australia and New Zealand Banking Group, Westpac Banking Corporation, Hong Kong and Shanghai Banking Corporation, JP Morgan, Bank of America and Mizuho Bank.
The new facilities will provide a strong level of liquidity to support the Group’s growth strategy and ongoing global funding requirements. Upon completion, the Group’s weighted average debt maturity profile will increase to 6.6 years (up from 5.0 years at February 2021).
As part of the broader capital management plan, these new debt facilities will support the Group’s FX strategy of aligning the debt currency profile with the cash flows of the operating businesses.
Approved for release by the ALS Limited Board.
-ENDS-
For further information please contact:
Raj Naran Simon Starr Managing Director and CEO Head of Investor Relations ALS Limited ALS Limited +61 7 3367 7900 +61 428 275 170 [email protected]
About ALS Limited
ALS is a global Testing, Inspection & Certification business. The company’s strategy is to broaden its exposure into new sectors and geographies where it can take a leadership position.