Australia's Keytone Diary rises on securing debt financing facilities

Halo Food Co

16/07/2021 04:21

** Shares of Keytone Dairy Corporation  KTD.AX  rise as much
as 11.1% to A$0.15, their biggest intraday pct. gain since July
8
    ** The dairy product manufacturer says it has increased its
available funding with secured debt financing facilities
    ** Says ANZ Bank  ANBHB.NZ  provided NZ$1 mln ($700,100.00)
trade finance facility for the New Zealand dairy business,
increasing the total available debt financing in New Zealand to
NZ$3 mln
    ** Adds it also secured a trade debtor finance facility of
A$7 mln ($5.20 mln) with Moneytech for the Australian Contract
Manufacturing and Brands business
    ** The increased debt financing facilities will be deployed
for organic growth initiatives, new contract wins and a growing
sales pipeline in Australia and NZ - CEO Danny Rotman
    ** Nearly 1 mln shares change hands, compared with the
30-day average volume of 931,000 shares
    ** Stock has fallen 46% this year, as of last close


($1 = 1.4284 New Zealand dollars)

($1 = 1.3455 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))