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GMT Completes Refinancing Initiatives
GMT Completes Refinancing Initiatives
Goodman Property Trust (“GMT” or “Trust”) is pleased to announce that it has completed significant refinancing with the renewal and extension of over $400.0 million of debt funding facilities since February 2010.
The refinancing includes $75.0 million of GMT’s main debt facility and $281.0 million of other debt facilities together with a $45.0 million wholesale bond issue.
Goodman (NZ) Limited Chief Executive Officer, John Dakin said “The Trust remains proactive in its debt management programme, continuing to diversify its sources of funding and refinancing its facilities well before expiry. The combination of bank refinancing and bond issuance has secured new funding facilities on three, five and seven year terms. The refinancing increases the overall tenor of GMT’s debt facilities by more than a year, with the average remaining term now 2.8 years.”
GMT’s proportionate share of the total refinancing completed is $276.0 million and the appended table shows the composition of the Trust’s debt facilities with their respective expiry dates.
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