CTM Announces new Financing Arrangements ahead of Release of

Key points

• CTM secures $175 million debt facilities with PEP Credit
• New facilities replace existing $75 million corporate facility
• Expected annual interest costs for FY27 and FY28 are $20 million
• CTM to recognize $29 million liability for European segment

Full summary

Corporate Travel Management (CTM) announced new financing arrangements to support its client remediation obligations and ongoing operations. CTM has secured $175 million in debt facilities from Pacific Equity Partners (PEP Credit), replacing its existing $75 million corporate facility. The new facilities will provide liquidity for meeting client obligations and business requirements. CTM estimates its annualized interest costs for FY27 and FY28 to be approximately $20 million. The new facilities are subject to conditions, including the release of CTM's FY25 financial statements without a going concern audit qualification. CTM has also completed reviews of its European air margin revenue recognition and impairment assessments, expecting to recognize a $29 million liability for the European segment. The full financial statements for FY25 and 1H26 will be available on or before 28 August 2026.

Guidance

Annual interest costs for FY27 and FY28 are expected to be approximately $20 million.

Outlook

CTM expects to release its FY26 full-year results shortly after the FY25 and 1H26 financial statements.