EVT Secures Larger, Cheaper Debt Facilities to Back Hotel-Focused Growth

The latest update is out from Event Hospitality & Entertainment Ltd. ( (AU:EVT) ).

EVT Limited has completed a refinancing that lifts its main debt facilities to $750 million from $650 million, alongside a $15 million credit support line, in a move designed to support its ongoing shift toward hotel-sector earnings. The new three-year, multi-currency revolving facilities come on improved margins, with interest set at benchmark reference rates plus 1.25% to 2.00%, implying a current weighted average margin of about 1.59% based on the group’s leverage.

The debt is backed by guarantees from most Australian and New Zealand entities in the group and secured against 14 of its 34 properties, valued at around $1.1 billion, with all four incumbent lenders—CBA, HSBC, NAB and Westpac—participating in the deal. At completion, EVT had drawn about $610 million of the facilities, used roughly $5 million of the credit support line and held more than $90 million in cash, positioning it with greater financial flexibility to pursue growth and continue reshaping its earnings profile.

The most recent analyst rating on (AU:EVT) stock is a Hold with a A$13.00 price target. To see the full list of analyst forecasts on Event Hospitality & Entertainment Ltd. stock, see the AU:EVT Stock Forecast page.

More about Event Hospitality & Entertainment Ltd.

EVT Limited is an Australian-based company operating across the entertainment, ventures and travel sectors, with a growing strategic focus on the hotel industry. The group owns and operates a portfolio of 34 properties in Australia and New Zealand, supporting its diversified operations and providing asset backing for its financing arrangements.

Average Trading Volume: 210,880

Technical Sentiment Signal: Buy

Current Market Cap: A$2.03B

For detailed information about EVT stock, go to TipRanks’ Stock Analysis page.