• Successful refinancing of debt facility on improved margins
• Facility extended for additional two years to 31 August 2028
• Facility funded by long-term banking partner ANZ and new lender CBA

Michael Hill International Limited (ASX/NZX: MHJ) has announced the successful refinancing of its debt facility on improved margins for an additional two years to 31 August 2028. The refinancing is subject to customary conditions precedent and is funded by the company's long-term banking partner, Australia and New Zealand Banking Group Limited and ANZ Bank New Zealand Limited (ANZ), as well as a new lender, Commonwealth Bank of Australia Limited (CBA). The existing facility limits continue, with the $90m core facility and the $20m seasonal uplift for four months from 15 September each year. Each subsidiary of the company guarantees the company's obligations under the facility. The facility also contains terms that are typical for a transaction of this nature including conditions for repayment, financial covenants, guarantee provisions, representations and warranties made by the borrowers, information undertakings, cancellation and termination of the facility and events of default.