Managing director and CEO of Fisher & Paykel Appliances Holdings Limited, John Bongard has responded to an article in the New Zealand Herald this morning, that claims its interim $80 million funding facility has been extended for two months.
While Bongard did not accept or deny the reports Bongard did state that the company is still in talks with banks and it may be an option.
“As stated in the company’s release on 13 March 2009, this facility is repayable on 30 April 2009 (or such later date as agreed by the parties),” he said. “The company’s expectation is that the interim facility will be repaid from the proceeds of a refinancing of the total bank debt of the Appliances Group.”
“For this reason, the interim facility contemplated that its term may need to be extended, subject to the agreement of the company’s banking syndicate. That remains the current position.”
He further emphasised that the company is continuing to discuss refinancing arrangements with its banks and the company will continue to release information to the market through the NZX and the ASX as it becomes available.