Macmahon unveils funding facility

The syndicated facility comprises three tranches, covering working capital, bank guarantees and construction and mining equipment financing.CBA and HSBC are acting as lead arrangers of the facility, complementing existing relationships with financiers Caterpillar Finance and GE Finance.The group already has broadened its banking relationships by incorporating a number of international banks into the facility. These include several Taiwanese banks as part of the syndication, as well as the Japanese bank Sumitomo-Mitsui Banking Corporation and South African outfit Investec.According to Macmahon chief financial officer Ross Carroll, the funding will allow for further growth in the business, particularly within the mining sector.“Importantly, our balance sheet is in a strong position with no net debt, which has been a key focus for the company,” he said.

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