Farm Pride Foods Ltd (ASX:FRM) Secures $27.5 Million Finance Facility
Financing Details
Farm Pride Foods Ltd has secured new finance facilities totaling $27.57 million with National Australia Bank (NAB). Of this, $14 million will be used to refinance existing debt, including $12.555 million with Merricks Capital and $2 million with AMAL Trustees Pty Ltd (TP24).
Use of Funds
The remaining funds will be allocated to capital initiatives at the Keysborough processing facility and on-farm infrastructure improvements at existing and new farm sites where planning permits are being sought. The new NAB facility offers significantly lower costs compared to previous arrangements, strengthening Farm Pride’s capital structure and supporting operational growth.
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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