Pacific Brands extends $175mn securitisation facility

The securitisation facility was due to expire on 24 May 2013.  It has been extended and is now a 3 year facility that will expire on 31 July 2015.

The repayment of debt reflects continuing strong operating cash flow and also follows completion of the sale of the Kingsgrove (NSW) and Coolaroo (Victoria) surplus properties.  The $25 million repayment reduces the limit of Tranche 2 of the company’s syndicated debt facility from $175 million to $150 million.

Pacific Brands has come a long way from manufacturing Dunlop bicycle tyres in 1893. Today, Pacific Brands is famous for marketing iconic everyday brands our consumers love including Berlei, Bonds, Clarks, Dunlop, Everlast, Grosby, Hard Yakka, Holeproof, Hush Puppies, King Gee, Mooks, Mossimo, Razzamatazz, Sheridan, Slazenger, Tontine, and Volley.

Pacific Brands