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Huge renews R20m short-term funding agreement

20th November 2015

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JSE-listed Huge Group has renewed a R20-million short-term loan agreement with Afrasia Special Opportunities Fund (ASOF).

After entering into the 12-month funding agreement a year ago, the deal was extended for another 12 months at a prime-plus-9% interest rate a year.

The loan was repayable in one lump sum on November 30, 2016.

“After careful consideration, the board is of the view that the cost of the ASOF funding will, on a rolling 12-month basis, be cheaper than the cost of equivalent equity funding,” the company said in a statement.

Edited by Creamer Media Reporter

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