Electronic road user charges and compliance services provider ERoad has won the EY debt deal of the year at the INFINZ 2018 Industry Awards.
Judges praised ERoad’s $48million multi-option credit facility.
“This highly innovative funding mechanism enabled ERoad, who were growing rapidly, to leverage its largest asset (and a non-balance sheet item), being future contracted income, and intangible assets,” Judges said.
The annual INFINZ Industry Awards are the New Zealand finance industry’s premier awards.
ERoad chief executive Steven Newman says the company was delighted by the industry’s acknowledgement.
ERoad is already enjoying the benefits of the award-winning deal which was a key platform for continued growth, he says.
Newman says that credit for the deal was shared with its finance partner BNZ, which shared a desire to innovate, recognising the value in being able to leverage assets like future contracted income to support a fast-growing company.
