RFG retail food group limited

4.38%

83.5¢

Retail Food Group stocks hit 10-year low on $88m loss and 200 stores to be closed, page-10

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Yoda2503

631 Posts.

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12/03/18

13:25

Post #: 31688263
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Originally posted by allosir ↑

You read it right as far as I can remember from when I looked at the accounts.

RFG has a senior debt facility of 319M this gives the company the ability to trade so there's an overdraft, line of credit for working capital etc.

RFG has net debt of 259M iirc

So it has 60M of headroom which is normal you would not expect a company to d8
raw down all of it's facility unless it had a debt problem and RFG doesn't.

Over the next year RFG will service the debt (pay interest) and amortise the debt by 12.5M that means in addition to interest 12.5M principal must be paid back. So long as RFG meets it debts repayments as stipulated then the banks will continue to make the 319M facility available.

RFG's borrowings are secured against RFG assets excluding goodwill and deferred tax. The banks stipulated in the original covenants that RFG could not sell any asset (the items that lending is secured over as detailed in the 2017 accounts) without the banks permission. The renegotiated covenant stipulates that RFG can sell assets but that 60% of proceeds must go to paying down debt unless the bank agrees to waive this requirement.

Expand

The total facility will include bank guarantees on leases.

Its obvious the banks have said that they want their money back or at the very least exposure reduced. ....no way on earth are they giving them more money

RFG Price at posting: $1.16 Sentiment: None Disclosure: Not Held
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Last 83.5¢		Change 0.035(4.38%)		Mkt cap ! $50.56M

Open	High	Low	Volume
82.5¢	85.5¢	82.5¢	35.49K

Buyers (Bids)

Vol.	Price($)
473	84.5¢

Sellers (Offers)

Price($)	Vol.
85.0¢	1872

Last trade - 16.10pm 22/07/2026 (20 minute delay)

RFG (ASX) Chart

Retail Food Group stocks hit 10-year low on $88m loss and 200 stores to be closed, page-10

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Retail Food Group stocks hit 10-year low on $88m loss and 200 stores to be closed, page-10

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