Gowing Bros debt facility move to St George Bank

Gowing Bros Limited (ASX:$GOW) has announced the decision to move its debt facility from CBA to St George Bank, a division of Westpac Group. The new facility amounts to $95,865,000 and carries a maturity date of 30 August 2027, along with a simplified covenant and reporting package.

Executive Chairman's Comments on Debt Facility Move

We are pleased to announce the transition of our debt facility to St George Bank, a division of Westpac Group. After a thorough market review, we have executed facility documents with St George Bank for a $95,865,000 facility, which comes with a maturity date of 30 August 2027 and a simplified covenant and reporting package. This move aligns with our long-standing relationship with the Westpac Banking Corporation, spanning 155 years.

Summary of Gowing Bros Debt Facility Move

Gowing Bros Limited (ASX:GOW) has successfully transitioned its debt facility from CBA to St George Bank, securing a $95,865,000 facility with a maturity date of 30 August 2027. The decision reflects the company's commitment to optimizing its financial arrangements and leveraging its enduring partnership with the Westpac Group. This move is expected to provide Gowing Bros with a more streamlined and flexible financial structure, supporting its strategic initiatives and long-term growth objectives.