News: MTS Metcash Announces Equity Raising Of Up To $330M

April 20 (Reuters) - Metcash Ltd (MTS) :

• METCASH LTD - EQUITY RAISING OF UP TO $330M
• METCASH - EQUITY RAISING REFLECTS CURRENT HEIGHTENED LEVEL OF UNCERTAINTY RELATED TO COVID-19 PANDEMIC
• METCASH - TOTAL FOOD SALES FOR FIVE MONTHS ENDED MARCH 2020 INCREASED 4.3%
• METCASH LTD - GOT $180M OF ADDITIONAL SHORT-TERM COMMITTED DEBT FACILITIES FROM EXISTING LENDERS
• METCASH LTD - SALES HAVE BEEN NEGATIVELY IMPACTED BY COVID-19 RELATED CLOSURE OF OUR NZ OPERATIONS & CLOSURE OF 'ON-PREMISE' BUSINESSES IN AUSTRALIA
• METCASH LTD - SALES GROWTH PRE COVID-19 CONTINUED IN 2H20, WITH LIQUOR SALES INCREASING 3.2% FOR FIVE MONTHS ENDED MARCH 2020
• METCASH LTD - CONTINUED FOCUS ON COSTS EXPECTED TO HELP OFFSET IMPACT OF LOSS OF EARNINGS FROM 7-ELEVEN & OTHER COST PRESSURES EXPECTED IN FY21
• METCASH - SALES TRAJECTORY PRE COVID-19 HAS CONTINUED TO IMPROVE & THERE WAS SIGNIFICANT UPLIFT IN SALES IN MARCH/EARLY APRIL
• METCASH LTD - HARDWARE SALES IN 2H20 CONTINUED TO REFLECT SLOWDOWN IN CONSTRUCTION ACTIVITY
• METCASH - SUPERMARKETS SALES INCREASED 4.8% FOR FIVE MONTHS ENDED MARCH
• METCASH LTD - TO UNDERTAKE REVIEW OF CARRYING VALUE OF ASSETS, WITH ANY IMPAIRMENTS THAT MAY BE REQUIRED REFLECTED IN FY20 FINANCIAL STATEMENTS