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KIP refinances $875 million of bank debt facilities
NZX RELEASE
30 June 2014
KIP refinances $875 million of bank debt facilities
Kiwi Income Property Trust is pleased to advise that it has refinanced $875 million of bank debt facilities, leading to interest savings and an extension of the weighted average duration of its bank debt facilities from 3.1 years to 4.0 years.
Gavin Parker, Chief Financial Officer, said: “The Trust continues to receive strong support from the four Australasian banks and we have been able to execute at an opportune time in the cycle to improve duration, conditions and pricing.”
The Trust’s facilities continue to be well spread across the four banks over multiple years with the first maturity not becoming due until the Trust’s 2017 financial year.
Full release with chart: 2014.06.30_NZX_Release__Bank_Debt_Restructure.pdf
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