Sydney, Australia: 3 December 2008 - In light of current debt market conditions SAI Global wishes to update the market on its funding arrangements.
- Since 30 June 2008 further facilities have been put into place and the company retains substantial headroom across its borrowing facilities
- The maturity profile of the borrowings has been further extended. A small amount is due for repayment in 2010 (11.1M GBP), with the majority of borrowings maturing in 2011, 2012 and 2013.
- Notwithstanding the lengthening of the maturity profile, the weighted average cost of funds has decreased since 30 June 2008 on account of falling interest rates
- The company continues to comply with all of its banking covenants
- The company neither needs, nor intends, to raise new equity capital to repay debt
For further information:
Mr Geoff Richardson
Chief Financial Officer
SAI Global Limited
Tel: +61 2 8206 6805
Mobile: +61 429 314 698
Email: geoff.richardson@saiglobal.com
Mr Tony Scotton
Chief Executive Officer
SAI Global Limited
Tel: +61 2 8206 6182
Mobile: +61 2 419 527 592
Email: tony.scotton@saiglobal.com
