Intelligent Monitoring Group Limited

ASX:IMB

Intelligent Monitoring Group Limited

ASX:IMB
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$0.515 (+1%)
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#97
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3
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lastever
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Last edited a month ago
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#Refinancing: 15% to 7%
lastever
Added a month ago
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NAB providing up to $122,500,000 of secured term debt. Should be implemented by end of March 2025.

The new facility is broken into:

  • a replacement term debt facility
  • a new acquisition facility and
  • a bank guarantee facility.

The implied rate will drop from 15% for the existing ADT Acquisition facility to approx. ~7%.

This will result in a >$6.5m p.a. reduction in interest expense.

Post refinancing, IMG expects a pro forma Gross Debt to EBITDA ratio of ~2.2x versus a covenant ratio of <3.25x for the facility term.