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VTL confirms extension of existing corporate debt facility

5/06/2024, 17:22 NZST, GENERAL

05 June 2024 Vital confirms extension of existing corporate debt facility Vital Limited (VTL), a specialist radio and fibre network services provider advises that its banking facility with Bank of New Zealand (BNZ) has been renewed to January 2026. Jason Bull, Vital’s CEO, says ‘’today’s update on the renewal of its debt facility follows on from the June 2023 renewal update. Vital has seen a net debt reduction of 6.2% over the past 2-years. Continuing to reduce debt is core to Vital’s ongoing operational and financial reset, which saw the company return to profitability in the first half of FY24 (1H24)’’. Under the renewal the facility limit is $15.6m, with only minor amendments to terms and covenants. The pricing (i.e. the margin over base rate) remains unchanged. For further information please contact: Jason Bull CEO 027 497 4548 ENDS