NATIONAL Leisure & Gaming Limited signed a deal with the Bank of New Zealand Australia, subsidiary of the National Australia Bank Limited to restructure its existing finance facilities.
Under the terms of the agreement, NAB has agreed to forgive $40 million of NLG debt and deferred interest payments. These arrangements will be taken to be effective from 30 June 2010.
NLG director Andrew Jolliffe said the deal was both positive and is reflective of NLG’s recent solid trading performance.
Australian Property Journal
