GWA Group (ASX:GWA) completes extension of syndicated banking facility – The Market Herald

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  • GWA Group (GWA) successfully extends its $180 million syndicated banking facility
  • The extended facility now ends in October 2024
  • Additionally, the company’s separate one-year multi-currency revolving bilateral facility of $40 million with Commonwealth Bank was also recently extended to October 2022
  • On the market close, GWA is in the grey and trading at $2.69 per share

GWA Group (GWA) has successfully extended its syndicated banking facility.

The facility includes $180 million and matures in October 2024.

GWA is a supplier of building fixtures and fittings to households and commercial premises. It closed its last factory in 2017, moving from a manufacturer to a purely import-based model.

“GWA acknowledges the ongoing support of its banking group, comprising of Australia
and New Zealand Banking Group Limited, Commonwealth Bank of Australia and The
Hong Kong and Shanghai Banking Corporation Limited, Sydney Branch,” the company told the market.

Additionally, the company’s separate one-year multi-currency revolving bilateral facility of $40 million with Commonwealth Bank was also recently extended to October 2022.

Over the 2021 financial year, group revenue increased by 1.8 per cent to $405.7 million, reflecting improved residential construction activity in Australia in the second half and strong sales growth in the New Zealand and UK businesses.

Group earnings before interest before significant items declined 4.7 per cent to $68.5 million, compared to $71.8 million for the prior year.

For the financial year, the board declared a final dividend of 6.5 cents per share, fully franked.

On the market close, GWA was in the grey and traded at $2.69 per share.





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