The wine producer refinanced debt facilities to fund growth of its single-serve Poco Vino brand, targeting US market entry next year.
Australian Vintage has refinanced A$128m in debt facilities, extending maturity to March 2028 with an option for a one-year extension. The deal increases available funds by A$5m, aligning with the previous interest rate structure.
The company reported a net loss of A$21.9m for the six months to 31 December, widening from a A$473,000 loss a year earlier. Revenue declined 1.7% to A$123.9m, while EBITDAS swung to a A$268,000 loss from a A$11.1m profit in the prior period.
Proceeds from the refinancing will support the expansion of Poco Vino, a single-serve wine brand. Australian Vintage plans to enter the US market early next year as part of its growth strategy.