Vonex (ASX:VN8) completed the resettlement and reduction of its debt facilities, according to a Thursday Australian bourse filing.
The net proceeds from a recent entitlement offer have been used to repay about AU$13 million of the company's AU$23 million debt facility with Longreach, with the balance now refinanced with Westpac (ASX:WBC, NZE:WBC), the filing added.
The Westpac facility is a three-year variable interest rate loan with "commercially competitive" terms negotiated between both parties, the filing added.
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