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Hills ties up $51m debt facilities

Business

Adelaide-based Hills Ltd has signed new finance facilities worth more than $50 million.

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The new loans include a $36 million debtor finance facility through Assetsecure, and a $15 million, multi-tranche secured debt from Commonwealth Bank, the company said on Monday.

Hills, the company behind the Hills Hoist clothesline, has in recent years shifted to distributing products including CCTV, security alarms and hospital communications systems.

The company in April said pre-tax earnings in the second half of 2015/16 are expected to be better than the $5.4 million achieved in the first half of the year.

AAP

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