Collection House Limited announced that it has entered into a Syndicated Loan Facility with Westpac Banking Corporation (Westpac) and Commonwealth Bank of Australia (CBA). The syndicated facility replaces the current facility with Westpac, and delivers on the previously announced strategy to reduce risk via the diversification of funding sources. This change to the funding profile of the business was initiated at the sole discretion of the company in conjunction with its strategy to reduce the level of balance sheet gearing.

The new financing arrangements will be in place until January 2017. Pricing and terms are not materially different to the prior arrangements held solely with Westpac.