Saferoads Holdings (ASX:SRH) has secured a three year extension...

Saferoads Holdings (ASX:SRH) has secured a three year extension to its current banking facilities with Commonwealth Bank (ASX:CBA) to February 2018.

This follows the company repaying $1.6 million in core debt using funds raised through a recent 2 for 5 entitlement issue and sale of non-core assets at book value or higher.

The debt reduction and facility restructuring are expected to reduce finance costs in the second half of the current financial year and beyond.

Saferoads also reiterated that it expects to achieve positive earnings for the first half of the current financial year.

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