Published on 29 September 2023
AoFrio temporarily increases BNZ working capital facility
AoFrio is pleased to advise that it has accepted an offer from the BNZ of a $3 million increase to its trade finance facility. The facility limit will be $8 million for a three-month term and the increase will provide working capital flexibility through the remainder of the year. The interest margin over bank base rate has increased from 3% to 3.25% and drawdowns under the facility are secured against insured trade receivables and by the existing security agreement.