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SOUTHERN CROSS ELECTRICAL ENGINEERING LTD — Capital/Financing Update 2021
Dec 15, 2021
65884_rns_2021-12-15_027a4935-7fb3-4bf0-af49-b37bc04f85d0.pdf
Capital/Financing Update
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ASX & media announcement ASX code: SXE
16 December 2021
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Renewal of Banking Facility
Highlights
• Banking facility of $50m with CBA renewed
SCEE Group is pleased to announce that the Commonwealth Bank of Australia (“CBA”) has renewed its $50m Multi-Option Facility for the provision of bank guarantees and credit cards. The Multi-Option Facility also permits $50 million of bonding from other providers, which means that in combination across all of its banking and surety bond facilities SCEE Group has a total available bonding capacity of $100 million. At the current time SCEE Group has just under $70m of bonding on issue.
Commenting on the renewal, SCEE Group Managing Director Graeme Dunn said “I am pleased we have renewed our facility with CBA and, with circa $30m of headroom across our various facilities, I believe we have sufficient bonding capacity to service the significant opportunities presenting to us in many of the markets in which we operate.”
The CBA Facility is subject to normal commercial terms and conditions and matures on 30 November 2022.
Authorised for release by Graeme Dunn – SCEE Group Managing Director
Contact
SCEE Perth Office Graeme Dunn Level 15, 225 St Georges Terrace CEO & Managing Director Perth WA 6000 E: [email protected] T: +61 8 9236 8300
Colin Harper Company Secretary E: [email protected]
Southern Cross Electrical Engineering Limited
ABN 92 009 307 046