AFTERPAY TOUCH GROUP LIMITED (ASX: APT)
Afterpay Touch Group’s stock moved up about 1.5% on April 18, 2018 as the group announced that it has successfully closed a A$50 million offering of 4-year senior unsecured Notes at a fixed coupon of 7.25% pa. The Company updated that the sole lead arranger for the Notes transaction was National Australia Bank; while Evans and Partners Pty and Mint Partners acted as Co-Managers on the transaction. The Company further updated that the transaction diversifies its current debt funding sources and provides additional tenor to APT’s debt maturity profile. The stock moved up 5.5% in last five days post a 14% fall of one month. We have a “Hold” on the stock at the current price.
INFIGEN ENERGY (ASX: IFN)
Down 0.7% on April 18, 2018, Infigen Energy announced that it has reached financial close under the A$605 million Syndicated Facility Agreement signed on April 09, 2018. Owing to this, the Company’s Global Facility and Woodlawn Project Finance Facility have been repaid in full and all interest rate swaps associated with those facilities have been terminated. The Company has two debt facilities along with Bodangora Project Finance (PF) Facility. The accounting outcomes as a result of financial close and the refinancing included the $41m hedge reserve loss relating to the terminated interest rate swaps which will be transferred to the Income Statement and the Corporate Facilities will be brought to account net of the transaction costs, estimated to be $27 million. We maintain a “Hold” on IFN at the current price.
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Cash Flows associated with Corporate Facilities (Source: Company Reports)
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