Powered by MOMENTUM MEDIA
subscribe to our newsletter
YBR secures CBA funding for acquisitions

YBR secures CBA funding for acquisitions

Yellow Brick Road has entered into a detailed credit-approved term sheet with Commonwealth Bank of Australia for a new debt facility.

The CBA funding will replace YBR’s existing group facility of $5 million, which was not due to expire until 30 June 2015, according to yesterday’s ASX statement.

The new facility includes a bill facility limit of $12 million and an additional $1.835 million for existing/new ancillary overdraft, bank guarantee and corporate credit card facilities for a term of three years.

Advertisement
Advertisement

According to an ASX statement, the purpose of the funding is “to assist YBR in funding two intended acquisitions, including that of Vow Financial Holdings Pty Ltd previously announced, plus providing additional working capital and ancillary banking facilities”.

On May 26 Mortgage Business reported YBR will acquire a mortgage manager and a mortgage comparison website by the end of the financial year.

 

YBR secures CBA funding for acquisitions
mortgagebusiness
  • 23
    Days
  • :
  • 07
    Hours
  • :
  • 54
    Minutes
  • :
  • 01
    Seconds

EARLY BIRD CLOSING SOON
Have you secured yours?

Latest News

The major bank has announced increases to its variable owner-occupied and investor home loan interest rates. ...

Shadow Treasurer Chris Bowen has written to Treasurer Josh Frydenberg urging him to release the final report from the financial services roy...

Mitigating the systemic risks that could emerge from financial innovation will be a key area of focus for Asia-Pacific regulators this year,...

FROM THE WEB
podcast

LATEST PODCAST: The broking industry hits new heights

Is enough being done to ensure responsible lending?