The company said it had introduced new partners and diversified its existing banking relationships, establishing a syndicate across the markets in which the company operates.

The facility has a spread of maturities from 2-5 years.

Perenti said the new facility did not impact its ability to deliver on its leverage target of less than 1.0x by 2025.

Managing director Mark Norwell said the new facility supported the company's recently updated 2025 strategy.

"This facility provides Perenti with a significant amount of flexibility and underpins our liquidity position to enable us to continue to deploy capital, in-line with our capital management policy," he said.

"As outlined at our recent investor update, our allocation of capital will be in a disciplined manner towards our most value accretive strategic initiatives without impacting our ability to deliver on our 2025 leverage target of less than 1.0x."

Argonaut analyst Ian Christie said Perenti's longer-term strategic targets of a 20% return on capital employed, earnings margins of 10% and revenue of A$2.5 billion were achievable.

"While dividends will not be forthcoming for a couple of years (Perenti has opted for a share buy-back instead) trading multiples are too low; the EBITDA generated from the current $5.7 billion order book (assuming an 18% margin) exceeds the current EV," he said.

Argonaut has a buy rating and $1.25 price target for Perenti.

Perenti shares rose 5% to 62.5c.