Biome Australia (ASX:BIO) unit, Biome Australia Trading, has entered into a AU$5 million secured debt facility with National Australia Bank (ASX:NAB), according to a Thursday Australian bourse filing.
The facility consists of a AU$3.5 million invoice finance facility with a current interest rate of 7.75% and an application fee of AU$12,250 plus a monthly facility fee of AU$1,700. The ongoing facility has no set expiry date.
The remaining AU$1.5 million is a trade refinance facility with a current annual interest rate of 7.53% and an application fee of AU$5,250 plus an annual facility fee of 1.3%. This facility is set to expire on Feb. 27, 2026.
The facility will be used to fund inventory management and local and international growth, per the filing.
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