Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Kiwi Income Trust Restructures Debt Facility

Kiwi Income Property Trust Restructures Debt Facility

Auckland (March 23, 2004), Kiwi Income Properties Limited, as Manager of Kiwi Income Property Trust, has entered into a new debt facility totalling $350 million with four leading banks.

The participating banks are Bank of New Zealand, ANZ Banking Group (New Zealand) Limited, Westpac Banking Corporation and Commonwealth Bank of Australia.

Chief Financial Officer, Gavin Parker, said the terms of the new facility were a considerable improvement over the old facility, which was to expire in October 2004.

“The benefits to the Trust are a reduction in the total cost of debt, a greater spread of maturity periods, and the introduction of Westpac and CBA to the facility.”

“The improved terms reflect the continued growth of the Trust, the quality of its property portfolio and tenants, and the sound governance and stewardship provided by the Manager and its parent, Colonial First State Property, Australia.”

© Scoop Media

Business Headlines | Sci-Tech Headlines


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news