Top banks, including Australia and New Zealand Banking Group , Commonwealth Bank of Australia, National Australia Bank, Natixis, and Westpac Banking, have agreed to back Ramelius.
“While Ramelius has a strong balance sheet and we generate significant operating cash flow, we feel it is important to have the added financial flexibility, which this low-cost revolving debt facility provides us,” managing director, Mark Zeptner, said in the statement.that the Australian Retirement Trust Pty LTD had boosted its stake in Ramelius, increasing its voting power from 5.013% to 6.036%.
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