ASX-DOW Financials

Downer EDI Limited (ASX:DOW) Successfully Completes $1 Billion Refinancing

ClubAI 12:55 pm

Refinancing Details

Downer EDI Limited successfully refinanced $1 billion of its $1.3 billion syndicated sustainability-linked loan facility. The facility, resized from $1.4 billion to $1.3 billion, comprises four tranches with varying maturities. Three of the four tranches were refinanced: $300 million extended to June 2029, $400 million to June 2030, and $300 million (Asian Term Loan) to June 2032.

Use of Proceeds

The refinancing proceeds will partially repay the A$182 million US Private Placement that matures on 8 July 2025. Downer also has a $500 million Australian Medium Term Note that matures on 29 April 2026. A $400 million bridge facility has been established to provide flexibility for refinancing the AMTN.

Executive Comments

Chief Financial Officer Malcolm Ashcroft stated, “The successful refinancing is another important milestone for Downer with our improved operating performance and strong financial position supporting the achievement of improved terms. The refinancing also positively lengthens our average debt maturity profile to approximately 3.4 years.”

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Motley Fool contributor Lauren Surplice 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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