Clough announces $200 million Performance Bond and Debt Facility
23 February 2011
Engineering and construction company Clough Limited (ASX:CLO) announced today that it has secured a new $200 million, three year funding facility. The facility refinances and extends the company’s existing bonding capacity and also introduces a $20 million standby debt facility.
Clough’s Chief Financial Officer, Neil Siford, said “We have been very pleased by the level of support received from funders, with commitments received in excess of the amount required”.
“Clough is continuing its strong relationships with its existing funders, HSBC Bank Australia, Commonwealth Bank of Australia and the Export Finance and Insurance Corporation and also welcomes National Australia Bank to its banking group”.
Ends
For further information, please contact:
Neil Siford, Chief Financial Officer +61 8 9281 9373
Kristy McGrath, Marketing & Communications Manager +61 8 9281 9344/ 0417 451 724
About Clough
Established in 1919, Clough delivers an integrated Engineering, Procurement and Construction service primarily to oil and gas projects in Australia, South East Asia and the USA. The Group's services range from concept development through design, construction, installation, commissioning, operations and maintenance.
Backed by an experienced management team, over 3,300 personnel around the world and sophisticated project management systems, we are recognised for our commitment to safety, sustainable development and the wellbeing of the people, communities and environments in which we operate.