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EVZ Limited ( (AU:EVZ) ) has provided an update.
EVZ Limited has signed a new banking facility agreement with HSBC Bank Australia, replacing its previous arrangements with Commonwealth Bank of Australia on improved terms that reflect its stronger operational performance and credit profile. The new facilities, totalling $15.5 million, include a larger $10 million bank guarantee and standby line, a $5 million multiple advance loan for working capital and acquisitions, and a $0.5 million corporate card facility, enhancing financial flexibility and supporting project bids, growth initiatives and day-to-day expenditure management across its operations.
The expanded guarantee facility is expected to bolster EVZ’s ability to secure and execute project bid and performance bonds for its key subsidiaries, strengthening its competitive position in the Energy & Resources and Building Products markets. Management plans a progressive transition from CBA to HSBC to avoid disruption, with the facilities agreed on competitive commercial terms and no adverse changes to existing financial covenants, limiting potential downside for lenders and other stakeholders.
More about EVZ Limited
EVZ Limited is an Australian provider of technical services in the Energy & Resources and Building Products sectors. Through subsidiaries including Brockman Engineering, Syfon Systems, Tank Industries and TSF Power, the company combines engineering, innovation and project delivery capabilities to serve industrial and infrastructure clients.
Average Trading Volume: 156,995
Technical Sentiment Signal: Buy
Current Market Cap: A$38.27M
See more data about EVZ stock on TipRanks’ Stock Analysis page.