Goodman Property Trust completes refinancing

Goodman Property Trust says it has completed a refinancing programme, with the renewal and extension of a further $357 million of debt funding facilities.

The refinancing included documentation of new terms on Goodman's $330 million main debt facility and $27 million of debt funding for its Viaduct Corporate Centre joint venture, Goodman said.

Keith Smith, chairman of trust manager Goodman (NZ), said the comprehensive refinancing programme carried out in the past 12 months extended the term and diversity of the trust's funding sources.

More than $680 million of bank refinancing and bond issuance had been achieved, providing greater flexibility and improved tenor. The average remaining term across all its facilities was now 3.7 years, Smith said.

With the exception of a $150 million retail bond issued in December 2009 all the trust's funding facilities had been refinanced or renewed during 2010.

NZPA

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