Heliostar Secures Debt Facilities up to US$10M to Enhance Asset Acquisition
Tuesday, 10 September 2024, 03:37
Heliostar Secures Funding to Support Strategic Growth
Heliostar has successfully arranged debt facilities totaling up to US$10 million, crucial for supporting its strategic acquisition of production assets. This initiative highlights the company's commitment to enhancing its capabilities in the competitive market.
Details of the Debt Facilities
- Up to US$5 million working capital facility available immediately
- Partnered with Ocean Partners for funding
- Interest rate set at 3-month SOFR + 4% (currently 9.4%)
- Maturity date for the facility is December 31, 2025
This financial maneuver not only positions Heliostar favorably amidst rising market demands, but it also reflects the company’s strategic vision for future expansion and sustainability in its operations.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.