The new facility, from Assetsecure is offered under a three-year term to help with its digital print and marketing operations.
Ovato (ASX:OVT), digital printing firm has received a three-year AU$50 million working capital facility from Assetsecure. Ovato has worked with companies including IKEA, Unilever (NYSE:UN) and Target (NYSE:TGT), among others.
As quoted in the press release:
Ovato has completed a refinance f its existing working capital facilities with a new $50 million 3-year working capital facility originated through Assetsecure Pty Limited.
The new facility replaces Ovato’s existing working capital facilities with the ANZ and provides longer term funding as the previous facilities were provided on a rolling annual basis.
Assetsecure is a specialist corporate financier funded by some of Australia’s most recognised institutional investment managers and superannuation funds.