The Group is an ASX200 diversified global mining services group headquartered in Australia.
From our meagre beginning as a one-drill operation in Kalgoorlie, the Group has become one of the largest diversified global mining services companies.
The Group has built a portfolio of companies designed to provide a complete mining value chain throughout Australia, Africa and around the world.
Corporate Borrowing Structure
1 Excluded Barminco Subsidiaries2 Represents excluded AUMS Subsidiaries however AUMS is currently in the process of accession to the Perenti Common Terms Deed
Debt is generally raised in the name of Perenti or a subsidiary and may be secured or unsecured. Perenti currently has secured and unsecured borrowings in place. Generally, Perenti will approach the Bank, Capital Markets and Asset Financiers to fund its operations. In certain circumstances debt may be raised directly by a subsidiary or joint venture and will have separate security arrangements and financial covenants. Debt is raised in AUD and USD, however, may be raised in other currencies if required.
Perenti has revolving cash advance and bank guarantee facilities with its long term relationship banks and non-bank lenders. These banks and non-bank lenders include leading Australian and international banks and non-bank lenders. The term of these facilities are up to four years and the company regards the majority of these facilities as continuing facilities that will be extended on an ongoing basis as required.
In addition to revolving credit facilities/loans and capital markets supporting general corporate purposes, Perenti finances its fleet via Hire purchases and lease facilities which are secured by the specific assets financed. Perenti diversifies its leasing exposure to any one provider, reducing finance risk
Perenti’s financing facilities contain undertakings including an obligation to comply at all times with certain financial covenants which require the Group to operate within certain financing ratio threshold levels as well as ensuring that subsidiaries that contribute minimum threshold amounts of EBITDA and Total Assets are guarantors under various facilities.