Tuesday 28th March 2023 |
Text too small? |
Property for Industry Limited (PFI, the Company) is pleased to announce that it has refinanced its $100 million loan facility from the Bank of New Zealand (BNZ).
The facility expiry date has been extended to 31 March 2025 and the facility has been increased from $100 million to $175 million. The extended facility is in addition to PFI’s bonds and other bank facilities, which are detailed in the table below:
(See table in the attached PDF)
Post this refinancing, the weighted average term to expiry of the Company’s bonds and bank facilities has increased to 2.8 years, as at 28 March 2023.
PFI Chief Finance and Operating Officer, Craig Peirce, notes: “We are very pleased to have refinanced the facility from one of our key banking partners, BNZ. High levels of liquidity from a diverse range of sources, coupled with low gearing, provide PFI with funding flexibility to execute on the Company’s committed brownfield development opportunities at 30-32 Bowden Road and 78 Springs Road, both of which will target 5 Green Star ratings.”
ENDS
No comments yet
Rakon FY2024 Results Announcement Date
WHS - The Warehouse Group FY24 Third Quarter Sales Update
May 10th Morning Report
FY24 Results Announcement Date and Briefing Details
Fonterra appoints permanent CFO
Harapaki wind farm now on track for mid-winter completion
Rabobank picks $8.40 kg/MS forecast milk price for 24/25 dairy season, but warns global dairy price recovery now likely to be slower
Kiwi Property FY24 annual results announcement date
MFB - FY24 Results Announcement Date and Briefing Details
AIA - Announces books closed for retail bond offer