Aeris Resources (ASX:AIS) Secures Refinancing of Facilities
Refinancing Details
Aeris Resources Limited (ASX:AIS) has executed a binding term sheet with Washington H. Soul Pattinson (WHSP) for a $60 million Guarantee Facility, replacing the existing $50 million ANZ Guarantee Facility. Additionally, the company has extended its $50 million Term Facility with WHSP to August 2026 and released $10 million from restricted cash to bolster working capital. Both facilities require no repayments or cash backing for over 12 months.
Financial Position
Post-refinancing, Aeris will maintain a debt position of $40 million and hold an unrestricted cash balance of $32 million, including undrawn debt. The new Guarantee Facility covers all environmental bonds with $60 million and $18 million in restricted cash, providing enhanced balance sheet flexibility for future growth projects.
Executive Comments
Aeris’ Executive Chairman, Andre Labuschagne, stated, “this refinancing positions Aeris for growth over the medium term. The current ANZ facility used for environmental bonding will be replaced with a larger, longer-dated facility. The existing WHSP Term Facility will be extended to 31 August 2026. The refinanced facilities require no cash backing or repayments for over 12 months and provides additional balance sheet flexibility. The refinancing also demonstrates WHSP’s long term commitment to Aeris.”
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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