Janus Electric secures A$11m in CBA facilities
Key points
- A$10m trade finance facility to scale production
- A$1m asset finance facility for equipment
- First US truck conversions scheduled for 2Q FY2
Full summary
Janus Electric Holdings Limited (ASX: JNS) has secured A$11 million in financing facilities with the Commonwealth Bank of Australia (CBA). The facilities include a A$10 million trade finance facility for working capital to scale production and delivery of orders, particularly across North America, and a A$1 million asset finance facility for equipment to expand production capacity and meet growing customer demand. The facilities support the delivery of the first US truck conversions from an 118-truck order book, scheduled for 2Q FY2, subject to applicable conditions.
Guidance
None
Outlook
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