Rubicon's US$20 million Bank Facility Extended
14 May 2014 - Rubicon's CEO Luke Moriarty announced today that "the Company's US$20 million bank financing Facility with the ANZ Bank New Zealand Limited ("ANZ"), which was to have expired on 1 July 2014, has been extended through to 1 July 2015.
All financial terms of the existing Facility, including its secured financing structure, remain as is."
Mr Kasnet, Rubicon's Chairman said "The ANZ has been our core banking relationship for over ten years now, and it has always been supportive in the provision of bank funding to assist us in meeting our business objectives for the Company.This Facility extension is important in that respect, as we look to near-term value realisation in Rubicon."
The Facility extension is effective immediately. Rubicon's existing debt balance today is approximately US$9.5 million.