$2.6m FJD Loan from Fiji Dev. Bank - further information
The Calmer Co International Ltd
Key points
- $2.6m FJD loan from Fiji Development Bank for Navua facility acquisition
- 5% interest rate and 20-year term with 240 equal monthly payments
- Loan secured as a mortgage over the property
Full summary
The Calmer Co. International Limited (ASX:CCO), a health and wellness company, has secured a $2.6m FJD loan from Fiji Development Bank (FDB) to enable the acquisition of its Navua facility in Fiji. The loan will be used to purchase a freehold land parcel of 5,856 sq. m. encompassing a residential dwelling for staff quarters and a kava processing facility with 1,930 sq. m. of internal floor space, including office space, a QA laboratory, two cool rooms, a blast freezer, and mezzanine storage levels. The loan terms include a 5% interest rate and 20-year term with 240 equal monthly payments of FJD18,200 commencing one month after settlement. The loan is secured as a mortgage over the property. Key material events of default and covenants in the loan agreement include failure to make payments, breach of terms, insolvency, provision of false information, and restrictions on additional indebtedness, asset sales, and change of ownership.