Nutritional and wellness company Nuchev (ASX: NUC) has secured a $4 million unsecured working capital facility from substantial shareholder H&S Global Holdings, structured to support its growth plans across the group in the short to medium term.
The facility is split into two tranches of $2 million each and matures on 31 March 2028. Interest is charged at the Bank Bill Swap Rate plus a margin of 10 per cent per annum, payable quarterly in arrears, with a line fee of one per cent per annum on undrawn amounts and an establishment fee of two per cent of the facility limit. Interest and fees may be capitalised at the company’s election. Voluntary prepayments may be redrawn.
Nuchev CEO, Nathan Cheong, said, “Establishment of this facility provides the company with additional working capital flexibility to support the execution of its current growth plans across the group. We value and appreciate the ongoing support of H&S in providing this facility to the group.”
The company disclosed the facility as a related party transaction under ASX Listing Rules, noting that the board has determined it is on arm’s length terms and that shareholder approval is not required.
Nuchev’s portfolio includes the Oli6 infant and toddler nutrition brand, sold through Australian pharmacy and grocery channels and via China’s cross-border e-commerce (CBEC) and general trade channels, as well as the recently launched Vietnam market. The company also holds the Bio Practica and Medicine Tree practitioner brands, operates the bWellness distribution arm for European brands in Australia and New Zealand, and holds exclusive distribution rights in Australia for Brauer, Skin Physics, and Rapid products.
