Fixed wireless and wholesale network infrastructure provider Swoop has signed a $32.1 million facilities agreement with Westpac to help it fund future acquisitions.

Thirty million of loan facility will be used to fund acquisitions that meet Swoop’s certain criteria and the company’s capital expenditure programs.

The agreement covers the following:

1. A $20 million term loan facility for permitted acquisitions with a facility term of five years. This facility has specific drawdown timing requirements. If drawdowns are not made within the required timeframes, this tranche of the facilities is no longer available for use.

2. A $10 million term loan facility for capital expenditure and permitted acquisitions with a facility term of five years.

3. A $2 million overdraft facility (revolving) for working capital requirements.

4. A $0.1 million corporate card facility for corporate requirements.

This first appeared in the subscription newsletter CommsWire on 17 June 2022.

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Swoop signs $32.1 million agreement with Westpac

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