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BRIEF-New Energy Solar Says Unit Has Closed On A US$23 Mln Senior Secured Term Loan With Keybank N.A

Published 15/05/2019, 04:15 pm
© Reuters.  BRIEF-New Energy Solar Says Unit Has Closed On A US$23 Mln Senior Secured Term Loan With Keybank N.A
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May 15 (Reuters) - New Energy Solar Ltd NEW.AX :

* UNIT HAS CLOSED ON A US$23 MILLION SENIOR SECURED TERM LOAN WITH KEYBANK N.A AND $1.6 MILLION OF ASSOCIATED CREDIT SUPPORT

* NEW HAS HEDGED UNDERLYING LIBOR RATE FOR FULL DURATION OF LOAN TO FIX INTEREST RATE AT AN AVERAGE OF 4.1%

* PROCEEDS TO REPAY CO'S US$ CORPORATE REVOLVING CREDIT FACILITY AND IMPROVE COST, TENOR, DIVERSITY OF CO'S CAPITAL STRUCTURE

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