March 24, 2020 / 11:08 PM / 14 days ago

BRIEF-Qantas Airways Says Completed A New Round Of Debt Funding, Securing $1.05 Billion

March 25 (Reuters) - Qantas Airways Ltd:

* COMPLETED A NEW ROUND OF DEBT FUNDING, SECURING $1.05 BILLION IN ADDITIONAL LIQUIDITY

* DEBT HAS BEEN SECURED AGAINST PART OF GROUP’S FLEET OF UNENCUMBERED AIRCRAFT

* FUNDING INCREASES GROUP’S AVAILABLE CASH BALANCE TO $2.95 BILLION WITH AN ADDITIONAL $1 BILLION UNDRAWN FACILITY REMAINING AVAILABLE

* LOAN HAS A TENURE OF UP TO 10 YEARS AT AN INTEREST RATE OF 2.75 PER CENT

* NET DEBT POSITION REMAINS AT LOW END OF ITS TARGET RANGE; NEW FUNDING CONTAINS NO FINANCIAL COVENANTS Source text here Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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