CTM amends debt facilities, extends reporting deadlines

Corporate Travel Management Limited (CTM) announced amendments to its existing debt facilities, adjusting the total facility size from $150 million to $140 million. This revised structure includes a $65 million bank guarantee facility and a $75 million revolving credit facility. Of the revolving credit facility, $40 million is unrestricted, while $35 million is subject to lender consent.

A key outcome of these amendments is the extension of the financial reporting deadline. CTM now has until 30 June 2026 to submit its audited FY25 financial statements and HY26 interim financial statements. These changes follow CTM's recent financial security arrangement with IATA, ensuring continued BSP-related ticketing activities without disruption.

As of 30 November 2025, CTM reported a cash balance of $177.6 million, which includes $15.2 million in restricted cash, and no drawn debt. In exchange for the facility amendments, CTM has agreed to additional obligations, including enhanced financial reporting commitments and other covenants.