Eastern Gas Signs Indicative Term Sheet for Proposed R&D Loan Facility of Up to AU$10 Million; Shares Down 3%
MT Newswires Live
Sep 25
Eastern Gas (ASX:EGA) signed an indicative term sheet with RiverFort Global Capital for a proposed research and development (R&D) loan facility of up to AU$10 million, according to a Friday filing with the Australian bourse.
The term sheet contemplates a three-year availability period with an initial drawdown of up to AU$1.5 million, the filing said.
Each drawdown will have a 12-month term, with repayment linked to receipt of the relevant R&D rebate and due at maturity, per the filing.
Shares fell nearly 3% in morning trade Friday.
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