CapitaLand’s Australian unit, Australand, said on Thursday that it has established a 1.3 billion Australian dollar unsecured debt facility.
This replaces existing secured facilities totalling A$1.15 billion.
The new facility comprises three tranches: A$325 million expiring in June 2012, A$650 million expiring in June 2013 and A$325 million expiring in June 2014.
Australand said the new facility reduces the concentration of debt expiring in any one year and extends its debt maturity profile to 2.6 years.
The syndicate consists of existing lenders to Australand with the addition of one new lender.
Australand said pricing of the new facility is in line with current market rates and is an improvement on margins of the replaced facilities.
It has also established a Euro Medium Term Note Programme to enable access to offshore debt capital markets.
It said this will assist it in further diversifying its sources of debt capital and improve access to longer dated funding.
Source : Channel NewsAsia – 15 Jul 2010
No comments:
Post a Comment