For context, some details from H1 report and presentation, im not sure why we needed to refinance, it was good terms with time to go, interest on lease liability was higher rate, the new facility is $497m, $20m less than previous. ----
Tassal has appropriate tenor in its bank debt book (weighted average 3.5 years at 31 December 2021).
Tassal has prudent credit metrics at 31 December 2021, with significant headroom to banking covenants.Substantial headroom is available under the current debt facilities with $160.1 million in undrawn debt facilitiesand $43.1 million of cash at 31 December 2021.
Funding
31-Dec-21
Debt
356.9
Cash and cash equivalents
(43.1)
Reported Net debt
313.7
Lease liabilities
196.4
Total Funding
510.2
Committed Debt Facilities
31-Dec-21
Facility
Drawn
Undrawn
Debt facilities
517.0
356.9
160.1
Cash and cash equivalents
43.1
Receivables Purchase Facility (RPF)
110.0
69.9
40.1
TGR Price at posting:
$4.89 Sentiment: Hold Disclosure: Held
