Robotic technology company FBR Limited (ASX: FBR) (‘FBR’) is pleased to announce, Fastbrick Engineering Pty Ltd, a wholly owned subsidiary of FBR, has established a Lease Finance Facility with FC Capital to provide asset finance for FBR’s two existing Hadrian X® construction robots at $1.15 million per Hadrian X®.
The finance facility comes with a three-year term and a 40% balloon payment at the end of the term, with a 2.0% establishment fee and an interest rate of 12.0% per annum and will place a General Security Agreement over FBR and Fastbrick Engineering Pty Ltd.
The establishment of this facility marks the first time FBR has been provided lease finance over its Hadrian X® construction robots, and is consistent with the Company’s global commercialisation plan to expand its fleet of robots. The facility is in addition to the construction financing facility secured in March 2022 that provides financing for robotically built houses.
