News and Announcements
APN Property Debt Refinance & Convenience Retail Property Fund Update
- Published May 27, 2016 10:18AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
26th May 2016, ASX Announcement
Debt Facility Refinance
APN Property Group Limited (APN) is pleased to advise that it has entered into a new $15.0 million debt facility agreement (Facility) with Macquarie Bank Limited.
This Facility will be used to replace the $10.0 million Corporate Facility which was due to mature in November 2016 and will enhance APN’s balance sheet flexibility. The key terms of this Facility are:
Amount: $15.0
Expiry: 31 May 2017
Security: Mortgage over specified assets
‘All in’ cost: ~5.35% (BBSW + Margin)
The Facility is subject to covenants customary of a facility of this nature, including a Loan to Value ratio and a Distribution Cover Ratio.
To view the full announcement, please click on the button below.
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