Sydney - Friday - March 13: (RWE Australian Business News) - Fisher & Paykel Appliances (ASX:FPA) has entered into a new interim bank funding facility to meet its temporary peak funding requirements as it continues to successfully implement its global manufacturing strategy. The agreement reached includes the establishment of a new interim $80 million funding facility; and a waiver of the group' debt cover ratio and interest cover ratio covenants as at 31 March 2009 for the term of the interim facility. The Company is now working with its banking syndicate with a view to refinancing the total bank debt of the Appliances Group with an expectation that that refinancing will occur by 30 April.
FPA Price at posting:
22.4¢ Sentiment: Buy Disclosure: Held