1. Most Discussed
  2. Gainers & Losers
QHL 8.8¢

News: Quickstep Holdings secures $3M debt facility to ramp up aerospace parts production

  1. Quickstep Holdings (ASX:QHL) has secured a $3 million debt facility as It continues to ramp up production at its Bankstown Airport facility for aerospace manufacturing contracts.

    This will assist in funding substantial increases in the combined production of parts for the F‐35 Lightning II Joint Strike Fighter (JSF) and Lockheed Martin C‐130J Super Hercules.

    Quickstep completed 188 JSF components in FY2014, increasing production to 200 parts delivered in the first half of FY2015. JSF production continues to ramp up.

    Production of C‐130J ship‐sets has expanded from seven ship‐sets in FY2014 to 14 ship‐sets in the first half of FY2015; and is expected to continue at an approximate rate of three ship‐sets per month.

    Quickstep's anticipated significant growth in manufacturing activity is on track and manufacturing sales are expected to grow from $12 million in FY2014 to more than $30 million in FY2015.

    These are expected to generate strong cash flow for Quickstep in subsequent years.

    Total JSF activity is expected to be worth US$700 million over 20 years.

    Key aspect of the facility are:

    - The facility must be drawn down in tranches of $1 million;
    - Term 18 months;   
    - Interest rate of 12% payable monthly in arrears; and
    - The debt is secured, but subordinated to senior debt.

     

DISCLAIMER:
Before making any financial decisions based on what you read, always consult an advisor or expert.

The HotCopper website is operated by Report Card Pty Ltd. Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.

From time to time comments aimed at manipulating other investors may appear on these forums. Posters may post overly optimistic or pessimistic comments on particular stocks, in an attempt to influence other investors. It is not possible for management to moderate all posts so some misleading and inaccurate posts may still appear on these forums. If you do have serious concerns with a post or posts you should report a Terms of Use Violation (TOU) on the link above. Unless specifically stated persons posting on this site are NOT investment advisors and do NOT hold the necessary licence, or have any formal training, to give investment advice.

Top

Thank you for visiting HotCopper

We have detected that you are running ad blocking software.


HotCopper relies on revenue generated from advertisers. Kindly disable your ad blocking software to return to the HotCopper website.

I understand, I have disabled my ad blocker. Let me in!

Need help? Click here for support.