Investor Presentaiton
01 Reset and strengthen balance sheet
Funding uses
$37.7m
Comprising of:
Repay and extinguish
existing bank facilities
$34.0m
Objectives
Current facility is no longer fit-for-purpose
Existing facility is amortising at $10m/year.
Limits RFG's capacity to reinvest operating profits into strategic
growth objectives.
RETAIL
FOOD
GROUP
Reduce refinance risk in uncertain credit markets
While RFG's existing facilities will not mature until Sep-23, an early debt
refinance is in the interests of RFG through:
Reducing refinance risks in uncertain debt markets; and
ii. Allowing management to increase focus on growth going forward.
A debt and equity refinancing reduces overall reliance on a single source of
capital.
Placement transaction
costs
$2.2m
i.
New Debt Facility
transaction costs
$1.5m1
1. Includes lender legal costs, establishment fee and RFG's
legal and corporate advisory costs.
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Reduce debt facility drain on cash flow
RFG's existing debt facilities have impacted cash flow through principal
repayments ($10m/year) plus interest.
The New Debt Facility does not require amortisation payments allowing
cashflow to be reinvested in growth initiatives or potentially distributed to
shareholders in the future.View entire presentation