Australia's WestStar Industrial jumps on approval for government-backed bond facility

Weststar Industrial

08/12/2021 04:24

** Shares of WestStar Industrial Ltd  WSI.AX  jump as much
as 9.1% to A$0.024, on track for their best session since Nov.
24
    ** Mining services provider has entered into ~A$7.5 mln
($5.35 mln) bond facilities with Export Finance Australia (EFA)
 urn:newsml:reuters.com:*:nASN001Z2K
    ** Says EFA bonds are Australian government-backed highest
rated securities 
    ** Under facility, EFA will give bonding to support co's
current works under contract of ~A$222 mln 
    ** Stock hits its highest level since Nov. 29
    ** About 14.9 mln shares change hands, compared with the
30-day average volume of 3.7 mln 
    ** As of last close, stock flat this year

($1 = 1.4015 Australian dollars)

 (Reporting by Navya Mittal)
 ((Navya.Mittal@thomsonreuters.com;))