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DGL GROUP LIMITED — Capital/Financing Update 2023
Dec 19, 2023
64770_rns_2023-12-19_b10cff82-0a36-4a76-9e0d-ae6180abb664.pdf
Capital/Financing Update
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ASX RELEASE
20 December 2023
DGL Bank Funding Syndication
Sydney, Australia - DGL Group Limited (ASX: DGL), (“DGL” or the “Company”), a specialist chemicals business that manufacturers, transports, stores and processes chemicals and hazardous waste, is pleased to announce the completion of syndication of its bank funding arrangements. The previous facility with ANZ Banking Group Limited was due to mature in September 2024 and the new multi-option syndicated facility matures in December 2026, with all key covenants unchanged.
The funding arrangements totalling $239 million represent an increase of $86 million across all funding lines including core debt, working capital and ancillary facilities comprising bilateral asset finance and other commercial funding arrangements. Subject to the agreement of the lenders and commercial requirements, there is also an additional $20m accordion facility available.
The extended term of the Group’s debt facilities demonstrates confidence by relationship lenders in DGL’s strong balance sheet position, strategic direction and future growth aspirations.
Commenting on the syndication, DGL Founder and Chief Executive Officer, Simon
Henry, said:
“With our new and extended funding arrangements, I am confident DGL will continue to successfully service its growing customer bases and take strategic advantage of an attractive and emerging acquisition portfolio. DGL is committed to utilising its available facilities to maintain a striong balance sheet.”
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Approved for release by the Board of DGL.
CONTACT
Barbara Furci DGL Group Limited +64 9 309 9254 or [email protected]
ABOUT DGL GROUP LIMITED
DGL Group (“DGL”) is a well-established, founder-led, end to end chemicals business that manufactures, transports, stores and manages the processing of chemicals and hazardous waste. The Company operates a network of sites, both owned and leased, across Australia and New Zealand. DGL has a strong track record of revenue and earnings growth and having listed on the Australian Stock Exchange in 2021, is pursuing a strategy to invest for growth, expanding its capabilities and scale to appeal to a wider customer base.
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