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E. Our funding and capital management

On 22 June 2011, the Commonwealth Government and NBN Co entered into an Equity Funding Agreement (EFA), whereby the Commonwealth provided assurances to the Company in relation to the provision of equity funding until 30 June 2021, unless terminated earlier.

As at 30 June 2020 the total committed equity funding of $29.5 billion from the Commonwealth had been provided to NBN Co under the terms of the EFA.

On 22 December 2016, a $19.5 billion loan agreement with the Commonwealth Government was signed for the period from 1 July 2017 to 30 June 2021. On 26 March 2019, the tenor of this loan was extended by three years to 30 June 2024.

During the year NBN Co entered into facility agreements with a number of financial institutions to secure $6.1 billion of private sector debt for a period of five years. There have been no drawdowns from these facilities as at 30 June 2020.

In addition, NBN Co has access to short-term working capital facilities totalling $1.0 billion and utilises these facilities in the normal course of business.