Brief: Navigator Global Investments Says Co To Settle 2026 Redemption Payment

Navigator Global Investments

15/06/2023 02:38

June 15 (Reuters) - Navigator Global Investments Ltd
 NGI.AX :
    * CO TO SETTLE 2026 REDEMPTION PAYMENT AND ACQUIRE REMAINING
DISTRIBUTIONS FROM A PORTFOLIO OF STRATEGIC INVESTMENTS
    * SIGNED A BINDING TERM SHEET WITH DYAL CAPITAL
    * FY23 ADJUSTED EBITDA NOW EXPECTED TO BE A$47.0 MILLION
-A$48.0
MILLION WHICH IS ABOVE PREVIOUS GUIDANCE
    * UNDER TERM SHEET, DYAL WILL RECEIVE TOTAL CONSIDERATION OF
A$200
MILLION
    * TERM SHEET TO ACCELERATE & RESTRUCTURE OUTSTANDING 2026
REDEMPTION PAYMENT TO DYAL
    * CONSIDERATION WILL BE FUNDED THROUGH A$120 MILLION
PLACEMENT TO
DYAL AT A$1.40
    * AFTER TRANSACTION CLOSE,  DYAL IS EXPECTED TO OWN UP TO
46.5% OF
NAVIGATOR ORDINARY SHARES

Source text for Eikon:  ID:nASXKZ4Ph 
Further company coverage:  NGI.AX 

 ((Reuters.Briefs@thomsonreuters.com;))