FBR Ltd secured lease financing for Hadrian X construction robots

FBR Ltd (ASX: FBR) announced that its wholly-owned subsidiary, Fastbrick Engineering Pty Ltd., has secured a Lease Finance Facility with FC Capital to provide asset finance for its two existing Hadrian X construction robots at AU$1.15 million per Hadrian X.

The lease facility has a three-year term and a 40% balloon payment at the end of the period, with a 2% establishment fee and an interest rate of 12.0% per annum, and will also place a General Security Agreement over FBR and Fastbrick Engineering Pty Ltd.

The company has provided lease finance for its Hadrian X construction robots for the first time and is consistent with its global commercialization plan to expand its fleet of robots.

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