Following a successful capital raise, EOH has concluded financing agreements with the Standard Bank of South Africa to refinance the group’s remaining debt package as follows:
* A R200-million four-year amortising term loan;
* A R250-million three-year bullet term loan;
* A R250-million four-year revolving credit facility; and
* R500-million general banking facilities which will include a working capital facility and ancillary banking facilities.
The refinancing provides EOH with a normalised debt structure with a single bank and significantly lowers the cost of debt for the group, allowing management to focus on driving growth in operations.