FinTechFunding

Palla Pharma: Enters sale and leaseback of Coolaroo site

Palla Pharma Enters sale and leaseback of Coolaroo site

  • Palla Pharma (PAL) enters into a sale and leaseback agreement of its $33.1 million manufacturing site in Melbourne
  • Upon receiving funds for the Coolaroo location, the company made a gain of around $21 million
  • Palla retains acess to $5 million of undrawn capacity under its existing credit facility
  • The 18-month lease arrangement, with an option to extend for six months, allows continued site access
  • PallaPharma shares are in the green, up 2.6 per cent, trading at 40 cents at 2:08 pm AEDT
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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