• Replaces existing $40M term loan with $42.6M in new facilities
• Maturities range from 18 months to 2 years
• Improved commercial terms and increased covenant headroom
• Strengthens balance sheet and supports growth initiatives

AVADA Group Limited (ASX: AVD) has announced that it has successfully completed the refinancing of the Group's debt facilities with its existing lender, the Commonwealth Bank of Australia (CBA). The refinancing replaces the existing $40 million term loan with multiple facilities totalling $42.6 million, with maturities ranging from 18 months to two years. The refinanced facilities have been implemented on improved commercial terms and provide enhanced flexibility and increased covenant headroom, strengthening the balance sheet and supporting AVADA's ongoing operational and strategic growth initiatives. Funds drawn under the new facilities have been applied to refinance existing debt and improve liquidity. AVADA's Chief Executive Officer, Donald Montgomery, stated that the award to CBA followed a formal process to identify and seek offers from both bank and non-bank lenders, and that the company is very pleased with the successful refinancing outcome.

The refinancing strengthens AVADA's balance sheet and supports the company's ongoing operational and strategic growth initiatives.