EWC formalises finance deal

Energy World Corporation is hoping to put the past behind it after formalising a refinance deal it struck with the Commonwealth Bank two weeks ago.

EWC said it has executed an amending deed to the original finance agreement with the CBA that has been a major source of headaches for the Osborne Park company.

Two weeks ago, the CBA agreed to extend the struggling power company's finance facility until December 2003, on the proviso that certain milestones are met, such as disposing or refinancing selected assets.