May 24 (Reuters) - ZipMoney Ltd
* ZipMoney closes $260m facility led by national australia bank
* new facility will have a 2-year tenure and result in a significantly lower average cost of funds of approximately 5% on a fully drawn basis
* facility will have a material positive impact on company’s future profitability and help drive towards breakeven guidance in fy18.
* will immediately re-finance approximately $70 million of existing receivables into new nab facility with no prepayment cost
* refinancing will deliver an immediate material reduction in interest expense to company. Source text for Eikon: Further company coverage: