Latest Banking Facilities News

Synlait Milk Limited has temporarily expanded its banking facilities by NZ$50 million to manage ongoing cost impacts from earlier manufacturing challenges, while preparing to reduce debt through a major asset sale.

City Chic Collective has reversed its fortunes with a $15 million EBITDA turnaround in FY25, driven by strategic restructuring and strong ANZ growth. The company eyes a debt-free 2025 close and cash flow positivity in FY26 amid cautious optimism for US market expansion.

Holista Colltech reported improved cash flow management and robust growth in its dietary supplements division for 3QFY25, while navigating ongoing legal challenges with ProImmune.

Ashley Services reported a challenging FY25 with a 7.3% revenue decline but kicked off FY26 with record quarterly revenues and improved profitability, signaling a strategic turnaround.

Codan Limited reported a strong FY25 with significant revenue and profit growth, bolstered by a key U.S. acquisition and a robust outlook for FY26 driven by defense spending and gold market strength.

West Wits Mining has locked in a USD 12.5 million tranche of a USD 35 million loan facility from Nebari to accelerate development of its Qala Shallows Gold Project, aiming for first gold production in early 2026.

Synlait has agreed to sell its North Island assets to global healthcare giant Abbott for approximately US$178 million, marking a strategic reset focused on debt reduction and operational simplification. The deal, expected to close by April 2026, positions Synlait to concentrate on its South Island operations and explore new growth avenues.

Synlait Milk Limited has completed a $350 million refinancing package with a strong banking syndicate, featuring amended financial covenants for FY26 and maintaining key shareholder support.

West Wits Mining has secured a $12.5 million USD loan facility from Nebari to fast-track development of its Qala Shallows Gold Project in South Africa, aiming for first gold production in early 2026.

TPC Consolidated Limited reported a robust 20.9% increase in revenue to $193.1 million for FY25, driven by growth in electricity and gas services. However, net profit after tax plunged 94.4% to $0.3 million, reflecting the impact of volatile wholesale electricity prices and rising costs, while a proposed acquisition awaits regulatory approval.

Vmoto Limited reported a 10.8% revenue decline to $20.8 million in H1 2025 but reduced its net loss slightly to $3 million, buoyed by resilient international sales and a strategic partnership with Uber to electrify delivery fleets across Europe.

Australian Agricultural Projects Limited reported a strong 18% revenue increase and a 56% jump in net profit for FY2025, while preparing to directly manage a key orchard segment after lease changes.