ALE has entered into a new debt facility with the following features: $250 million with a term of up to two years; opening credit margin of 1.75% with incremental increases of 0.75% every six months; ranks alongside the existing Australian Medium Term Notes (AMTN) as senior unsecured debt; covenants that are consistent with the existing AMTN; and repayable at any time during the two year term with no prepayment penalties. The proceeds of the new debt facility will be applied to repayment of all of the following existing FY21 maturities and associated costs: AMTN of $225 million with a maturity date of 20 August 2020. ALE has a right to redeem the AMTN at par plus accrued interest from late May 2020; and $20 million short term debt facility.