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| Subject: addresses the going concern issues previously raised by our auditors.” | |
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Author: Keycorp refinances $45m debt through ANZ |
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Date Posted: 12:53:30 02/02/03 Sun Keycorp refinances $45m debt through ANZ ----------------------------------------------------------- 31-January-2003 Australian smartcard company, Keycorp Ltd (KYC) will re-finance $45 million debt through ANZ Bank (ANZ) and has negotiated a long-term repayment plan beyond 24 months. “Under this agreement, Keycorp Solutions Limited will securitise the facility against the cash generated from its EFTPOS business. Net debt will continue to reduce,” said Keycorp. Tom McDonald, Keycorp’s chief financial officer said: “This new banking plan allows a complete restructure of our balance sheet gearing and addresses the going concern issues previously raised by our auditors.” In early January Keycorp was awarded a $30 million contract to supply a range of electronic payment solutions to the technology arm of one of Turkey’s largest industrial and services groups, Oyak Teknoloji. [ Next Thread | Previous Thread | Next Message | Previous Message ] |