Equipment finance company Silver Chef has extended its existing A$300 million debt facility by $100 million. The company has syndicated senior debt provided by ANZ, Bank of Queensland, Commonwealth Bank, HSBC and Westpac. The additional $100 million matures in three years and was extended on similar terms to the existing facility. The company said the extension would provide capacity to fund growth in its rental asset base. The board of foreign exchange operator OzForex has appointed Steve Sargent as a non-executive director. Sargent will take over as chair in November, replacing Peter Warne. Sargent had a long career at GE and GE Capital, and was chief executive of GE Capital Australia and New Zealand. ING Direct has cut the variable interest rate on its Orange Advantage mortgage by 15 basis points to 3.79 per cent - the lowest variable mortgage rate the bank has ever offered. The rate is available for loans with a minimum loan-to-valuation ratio of 80 per cent. The bank is also offering a three-year fixed rate of 3.69 per cent.