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SERVICE STREAM LIMITED — Capital/Financing Update 2014
Aug 21, 2014
65865_rns_2014-08-21_b70a0c3d-35bf-46e4-80cb-b82c4ef06d77.pdf
Capital/Financing Update
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ASX & Media Release
22 August 2014
Update on refinancing
Service Stream (ASX:SSM) is pleased to advise that it has accepted the terms of credit-approved term sheets from Australia and New Zealand Banking Group Limited (ANZ) and HSBC Bank Australia Limited (HSBC) for the provision of new financing facilities commencing upon the expiry of the facilities with its existing financiers on 31 August 2014.
The new facilities are on generally improved terms and pricing relative to those that they replace. The key features of the new facilities include:
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25 month term to 30 September 2016
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Multi Option Facility with a total facility size of $60.0 million
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Sub-Facility Limits of $35.0m for cash advances, $20.0 million for bank guarantees and $5.0 million for overdraft
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• All facilities are fully redrawable with no compulsory amortisation over the term, but with voluntary reductions of facility limits at Service Stream’s election
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Tiered pricing for fees and margins subject to leverage ratio
The Syndicated Facilities Agreement with the existing financiers is in the process of being amended and extended to give effect to the new facilities.
For further details contact:
Service Stream Limited
Service Stream Limited
Leigh Mackender, Managing Director Bob Grant, Chief Financial Officer Tel: +61 3 9677 8817 Tel: +61 3 9677 8817
About Service Stream Limited:
Service Stream is a public company listed on the Australian Securities Exchange (Code: SSM). The Service Stream Group is a provider of essential network services to the telecommunications, energy and water industries. Service Stream operates out of more than 40 locations nationwide and maintains a workforce of around 3,000 employees and contractors. For more information please visit www.servicestream.com.au
SERVICE STREAM LIMITED ABN 46 072 369 870
HEAD OFFICE Level 4, 357 Collins Street, Melbourne Vic 3000 | Mailing Address: PO Box 14570 Melbourne VIC 8001 T +61 3 9677 8888 | F +61 3 9677 8877 | E [email protected] | www.servicestream.com.au