23/12/2022, 8:30 am GENERAL
23 December 2022
Market Announcement
NZX:NZA
NZAI trade finance facilities extended
New Zealand Automotive Investments Limited (NZA or the Company) today advised that the commercial bank that provides its finance facilities has extended its Retail Trade finance facility from 31 December 2022 to 30 April 2023 at a level of $6.0 million.
The Company’s Motor Finance loan facility will now expire on 1 October 2023, with a lending limit of $1.8 million.
The Company is in discussions with alternate lenders regarding replacement of finance facilities beyond that date.
The Company remains in compliance with all banking covenants as at 22 December 2022.
[ends]
This announcement has been authorised by the NZAI Board Chair, Michael Stiassny.
For further information please contact:
Gordon Shaw
Interim CEO
NZ Automotive Investments Limited
Email [email protected]
Mobile 021 199 0331