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AUSENCO Limited (ASX: AAX) has agreed to the key terms of the refinancing extension of its borrowings and security facilities with two of the major banks.
The agreed refinancing extension incorporates Australia and New Zealand Banking Group Limited (ANZ) and National Australia Bank Limited (NAB).
It involves the rolling over of $33 million in borrowings to 2016 as a part of AAX’s total Canadian and US dollar bank borrowings of $52 million.
Total borrowings will continue to reduce with regular quarterly loan repayments.
AAX CEO Zimi Meka is pictured.
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