Listed Goodman Property Trust has completed the refinancing of $400 million of debt for its portfolio worth $1.47 billion.It began the process of extending and renewing its finance eight months ago.It extended $75 million from ANZ National Bank to October
Listed Goodman Property Trust has completed the refinancing of $400 million of debt for its portfolio worth $1.47 billion.
It began the process of extending and renewing its finance eight months ago.
It extended $75 million from ANZ National Bank to October 2013 The $400 million includes a $45 million bond issue and more than $280 million of other facilities.
“The Trust remains proactive in its debt management programme, continuing to diversify its sources of funding and refinancing its facilities well before expiry,” chief executive John Dakin said.
“The combination of bank refinancing and bond issuance has secured new funding facilities on three, five and seven year terms. The refinancing increases the overall tenor of GMT’s debt facilities by more than a year, with the average remaining term now 2.8 years.”
Earlier today it announced it appointed Kiwi Income Property Trust cofounder Peter Simmonds as an independent director on its board.
Its share price was trading at 98c at press time.
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