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LARK DISTILLING CO. LTD — Capital/Financing Update 2021
Nov 23, 2021
65265_rns_2021-11-23_ad4e5cbe-ac94-485c-8f2a-9bdf57d825f9.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
24 November 2021
New Debt Facility
Lark Distilling Co. Ltd (ASX; LRK) ( Lark or Company ) is pleased to announce that it has received credit approval for a $15 million debt facility from National Australia Bank ( Debt Facility ).
$5 million of the Debt Facility will be used to retire existing Loan of $5 million from Quality Life Pty Ltd.
The key terms of the Debt Facility are as follows:
Maturity: 31 January 2024 Principal repayments: Interest Only Security: Charge over Lark Distilling Co Ltd & its subsidiaries Key covenants: Minimum Interest Cover Ratio of 2.5 times, measured as 12-month period EBITDA divided by total interest payments ending on June 30th and thereafter yearly Interest costs: BBSY +1.97% pa
This announcement is authorised for release to the market by the Board of Lark Distilling Co. Ltd
Analysts/Investors Melanie Leydin (Company Secretary) +613 9692 7222 [email protected]
30 Argyle St Hobart TAS 7000 - ABN 62 104 600 544 - larkdistilling.com - +61 3 6231 9088