Australian food and beverage firm Retail Food Group (RFG) has extended the life of its three-year debt facilities worth $150m.
RFG is the owner of Donut King, Brumby’s Bakery, Michel’s Patisserie, bb’s Café, Esquires, Gloria Jean’s Coffees, It’s A Grind, The Coffee Guy, Café2U, Pizza Capers and Crust Gourmet Pizza Bar Brand Systems.
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The debt facilities were due to mature in December 2018 as stated by the group’s owners.
Under the renegotiated new agreements, the lenders have agreed to extend a $100m facility to January 2020, and a $50m facility to December 2020.
The existing five-year debt facilities, maturing in December 2020, have also been reduced by $25m by RFG, bringing its total senior debt facilities to $319m.
The company’s lenders National Australia Bank and Westpac Bank provided support in relation to the extension.
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By GlobalDataRFG has businesses in foodservice, dairy processing and wholesale bakery pursuits. It operates the Hudson Pacific Foodservice, Associated foodservice, Dairy Country and Bakery Fresh businesses.
