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Seeka Secures Additional Banking Facilities
Seeka Limited [NZX:SEK] advises that it has successfully negotiated an improved funding facility with a syndicate of banks to support Seeka’s continuing growth.
The syndicate led by Westpac includes ASB, Rabobank and BNZ and provides facilities of NZD$190 million, up from the previous facility limits of approximately NZD$152million.
Seeka advises that there was excellent demand from banks to provide debt facilities to the company. Whilst borrowings will not increase immediately, the increased facility will support the near term growth of the group including capital expenditure to support anticipated volume increases and potential acquisitions.
Seeka thanks the Westpac (Lead Arranger) and Harmos Horton Lusk (legal adviser) and management for achieving a satisfactory refinancing outcome.
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