Range International Limited (ASX:RAN) has announced it has secured a new loan facility totalling A$454,000, designated to accelerate its growth initiatives, particularly within its burgeoning rental pallets business opportunity. The company manufactures Re>Pal™ ‘zero-waste’ plastic pallets, employing ThermoFusion™ technology to produce 100% upcycled plastic pallets, supplying markets in Indonesia and across Asia Pacific. The secured loan facility has a term of 24 months and was fully drawn upon execution.
The Board of Range International retains the discretion to accept further applications and potentially increase the size of the Loan Facility, as funds are strategically deployed to support the expansion of its rental pallets fleet. This financial arrangement was established with professional and sophisticated investors, including some existing shareholders. Importantly, no related parties, directors, or substantial shareholders participated in this particular Loan Facility. The loan carries an interest rate of 18% per annum on amounts drawn, with interest capitalised monthly and paid quarterly, and any remaining accrued interest and principal due on the final repayment date.
Executive Chairman Richard Jenkins commented on the successful validation of the rental opportunity. “With the delivery of the first rental pallets in early 2026, the Company has successfully validated the commercial viability of this opportunity,” Mr Jenkins stated. He further noted that the Calendar Year 2026 pipeline of rental opportunities remains compelling, reinforcing confidence in the potential for further fleet growth. The Board prioritised unlocking these funds to capitalise on this momentum and accelerate the rental pallets fleet growth throughout CY26 and beyond.
Security for the loan includes rental pallets manufactured by PT Repal Internasional Indonesia and certain manufacturing equipment. The company also holds the option for early repayment of the facility after 18 months. The loan facility incorporates standard terms typical for transactions of this nature, covering aspects such as representations and warranties, undertakings, events of default, and enforcement rights.
