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XREALITY GROUP LTD — Capital/Financing Update 2015
Oct 29, 2015
66105_rns_2015-10-29_7ebf91ec-8237-4346-8149-c455a498450c.pdf
Capital/Financing Update
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Indoor Skydive Australia Group Limited ACN 154 103 607
ASX/Media Release Sydney, Australia – 30 October 2015
NEW DEBT FACILITY
Indoor Skydive Australia Group Limited (ASX: IDZ) today announced that it has entered into a $6.15 million debt facility with Westpac Banking Corporation.
The facility was obtained through an extensive tender process resulting in competitive terms and pricing. The new five-year, secured facility contains manageable covenants and will provide ISA Group with financial flexibility.
The Board of ISA Group has identified debt financing as the preferred form of funding for the Company’s growth at this time. The facility will provide ISA Group with access to appropriately priced funding to support our construction projects, manage contingencies and enable us to act on opportunities as they arise.
ISA Group CEO, Wayne Jones said, “ISA Group’s agreement with Westpac reflects the underlying strength of the business and it’s future growth profile”
“The agreement will result in a reduction in the weighted average costs of capital, provide flexibility for our operations and room for growth. This is an important step as the company matures into a multi-facility operation.”
ENDS
About Indoor Skydive Australia Group Limited (ACN: 154 103 607)
Indoor Skydive Australia Group Limited was established in 2011 as the parent company to build and operate a number of indoor skydiving facilities across our region in the next 3-5 years. These facilities allowing human flight within a safe environment are currently used by tourists, skydiving enthusiasts and military throughout the world. Flexible operating hours, low overheads and proven technology are just a few of the highlights that support the company’s business model. The Company listed on ASX on 18 January 2013 under the code IDZ.
For further information visit: www.indoorskydive.com.au Telephone: +61 2 9325 5900 fax +61 2 9325 5950 Wayne Jones, CEO, +61 2 9325 5900 or [email protected] Fiona Yiend, Company Secretary, +61 2 9325 5900 or [email protected]
Indoor Skydive Australia Group Limited: ACN 154 103 607 p: +61 (0)2 9325 5960 | Level 2, 201 Miller St, North Sydney, NSW 2060 | Australia
IndoorSkydive.com.au