Additional $2m growth capex p.a (plus presumably somewhere between $300-$600k funding from DRP). Cost of debt under existing facility was <4%, suspect this will now be closer to 3% - very attractive funding source for further DES expansion.
In my view cashflows already had a reasonable margin of safety prior to the above two developments (including full div payments over next 3 yrs).
Refinance also a huge sign of confidence in outlook by the banks IMO.
What a phenomenal management team
KKT Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
