SPC Global says it has raised $20 million through fixed rate unsecured notes with a four-year term at nine per cent per annum that matures in April 2029. The offer was arranged by FIIG Securities.
SPC Global managing director, Robert Iervasi, said the issue was an important step to meet the group's commitment to provide greater working capital flexibility and debt financing efficiencies.
"This is our first notes offer, and the proceeds will support our strategic growth plans. We can now turn our focus on the consolidation of the Mill Park and Shepparton factories, which will generate annual savings of $4-5 million and enable us to accelerate our international growth," Iervasi said.
In its 1H25 results, the group announced it had capacity to draw down new debt facilities for $105-160 million. At the end of 2024, it had utilised $111 million of that and was looking at other financing options of up to $49 million for the balance. The $20 million makes up part of that.
