Elanor Investors Group Advances Refinancing Strategy

Elanor Investors Group (AU:ENN) has released an update.

Elanor Investors Group has completed the sale of its interest in ECF for $23.9 million, aiding in the reduction of its senior secured debt and moving forward with refinancing a new $125 million debt facility to further manage existing debts and support its divestment strategy. The Group is addressing a potential default event caused by a gearing ratio breach by planning to remedy this through the refinancing and redemption of notes. Asset realizations and the divestment of hotel fund assets are expected to substantially reduce net gearing and release significant capital over the next 18 months.

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