Engenco : Increase and extension of Banking Facilities
August 19, 2020 at 01:27 am
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18 August 2020
Increase and extension of Banking Facilities
Engenco Limited (ASX:EGN) (Engenco or Company) is pleased to announce that documentation has been executed with National Australia Bank (NAB) to provide the Company with debt facilities now totalling $27,100,000 (previously $17,100,000). The NAB facility comprises a $20,000,000 revolving credit facility (previously $10,000,000), a $6,000,000 bank guarantee facility, a $600,000 corporate card facility, and a $500,000 operating account overdraft facility.
The maturity date of the revolving credit facility has also been extended by approx. 2 years until 31 October 2023, with the other facilities renewed annually.
The revolving credit facility remains undrawn at the date of this announcement.
This announcement has been authorised for release to the ASX by the Engenco Board of Directors.
About Engenco Limited
Engenco specialises in:
Maintenance, repair and overhaul of heavy duty engines, powertrain, propulsion and gas compression systems
Maintenance, repair and overhaul of locomotives
Manufacture and maintenance of wagons, carriages and associated rail equipment
Project management, training and workforce provisioning services
Leasing of wagons and other rail equipment
Manufacture and supply of road transport and storage tankers for dry bulk products
Engenco services a diverse client base across the defence, resources, marine, power generation, rail, heavy industrial, mining and infrastructure sectors.
For further information, please contact:
Kevin Pallas
Paul Burrows
Managing Director and CEO
CFO and Company Secretary
T: +61 (0)3 8620 8900
T: +61 (0)3 8620 8900
E: kevin.pallas@engenco.com.au
E: paul.burrows@engenco.com.au
Engenco Limited
Level 22, 535 Bourke Street
T +61 (0)3 8620 8900
Follow us at
ABN: 99 120 432 144
Melbourne VICTORIA 3000
F +61 (0)3 8620 8999
www.engenco.com.au
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Engenco Ltd. published this content on 18 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 August 2020 05:26:06 UTC
Engenco Limited is an Australia-based company that provides a range of products and solutions for transportation. The Company's segments include Gemco Rail, Convair Engineering (Convair), Drivetrain and Workforce Solutions. Gemco Rail segment specializes in the remanufacture and repair of locomotives, wagons, bearings and other rail products for rail operators and maintainers. Convair segment is a manufacturer of bulk pneumatic road tankers and mobile silos for the carriage and storage of construction materials, grain, and other dry bulk materials. Drivetrain segment is a provider of technical sales and services to the mining, oil and gas, rail, transport, defense, marine, construction, materials handling, automotive, agriculture, and power generation industries. Workforce Solutions segment is its people focused business, providing training and labor hire under the brands of Centre for Excellence in Rail Training (CERT Training), Total Momentum and Eureka 4WD Training.