• Convertible note issued in 2022 has been fully redeemed
• Redemption funded via new $7.5M term loan from NAB
• New debt facilities have improved size, pricing and tenor

Matrix Composites & Engineering Ltd (ASX: MCE) has announced the redemption of its $7.5 million convertible note that matured on 5 December 2025. The convertible note was issued to Collins Street Asset Management Pty Ltd in December 2022 and had a 3-year term to maturity and a 10.5% coupon rate. The repayment was funded via a new $7.5 million term loan, which is part of the recently announced facility agreement with National Australia Bank (NAB). This means Matrix's net debt position will not be impacted by the redemption. The new debt facilities with NAB deliver improved size and pricing compared to the convertible note structure and have a 3-year tenor maturing in November 2028. Matrix's CEO, Aaron Begley, stated that the redemption is the final step in the company's debt refinancing completed in November, resulting in a more simplified debt structure that supports the execution of Matrix's pipeline of opportunities.