Elanor Investors Group (ASX:ENN) has announced significant developments related to its financial stability. The company has refinanced its senior secured debt with an $85 million debt bridging facility from Keyview Financial Group. Meanwhile, Elanor is in negotiations with Noteholders for revised terms after a 90-day standstill agreement was reached.
Elanor Investors Group is actively addressing its debt structure through refinancing and negotiations with Noteholders. The company secured an $85 million debt bridging facility but is now focusing on revising terms for its unsecured corporate notes. A 90-day standstill with Noteholders allows time for these adjustments. The company is working to stabilize its balance sheet and aims to release its FY24 financial results and hold its AGM following the debt restructuring. Elanor's securities suspension on the ASX is expected to be lifted once these reports are finalized. The group's focus remains on reducing its gearing ratio to resume distributions, reflecting its commitment to financial stability and future growth.
The Group is focusing on stabilizing its balance sheet while progressing with an asset realization program. The FY24 financial results and the Annual Report will be released after restructuring the Notes, and the date for the Annual General Meeting (AGM) will be announced subsequently. Elanor's securities suspension on the ASX will be requested to be lifted following the finalization of these reports.