The Motley Fool

Why the Donaco International Ltd share price is up 4% today

Much to the delight of its shareholders, the Donaco International Ltd (ASX: DNA) share price has been a big mover during trade today.

In late trade the casino operator’s shares are up over 4% to 50.5 cents.

What happened?

This morning Donaco announced that it has signed binding agreements with Mega International Commercial Bank to refinance its current term loan facility.

The company has repaid a total of US$63.4 million in the past two years, with the remaining principal amount of the current facility standing at US$56.6 million.

The refinance agreement with Mega Bank today will be for a new facility of US$57 million, with the term extended for three years from the date of drawdown.

The market appears to have responded positively to the news due to the interest rate being reduced slightly to the LIBOR six-month rate plus 6%.

Furthermore, a number of covenants controlling capital management (dividends and buybacks) have been relaxed.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader, but it’s making waves in Asia and already boasts a term-deposit-crushing dividend above 4%. A debt free balance sheet and dominant market position at home and abroad mean this company offers investors income and some real-deal growth potential...

Simply click here to grab your FREE copy of this up-to-the-minute research report on this rising star right now.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!