Genus secures A$429m syndicated facility to boost growth

GenusPlus Group Ltd (Genus) has announced the execution of a new secured Revolving Syndicated Facility Agreement (SFA) totaling A$429 million. This facility, provided by Commonwealth Bank of Australia, HSBC, and National Australia Bank, is a substantial increase from the previous A$147 million club facility it replaces. The SFA offers a three-year term for the main facility and one year for appropriate sub-facilities.

The enhanced funding capacity is set to bolster Genus's ongoing growth strategy by providing increased flexibility to manage operational and capital needs, particularly as industry tailwinds continue. This facility, combined with existing surety bond facilities, offers significant headroom for future growth opportunities for the national power and communications infrastructure provider.

Genus managing director David Riches highlighted the importance of proactively adding financial flexibility, noting that the SFA supports the company's growth strategy. Leeuwin Capital Partners acted as financial advisors, and Thomson Geer served as legal counsel for Genus in this transaction.