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Steadfast enters into new $285m syndicated loan facility
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Steadfast enters
into new $285m syndicated loan facility
Debt capacity
increased by $105m
Steadfast Group Limited (ASX Code: SDF) has entered into a $285 million syndicated loan facility with Macquarie Bank Limited and Australia and New Zealand Banking Group Limited to replace the existing $180 million bilateral facility with Macquarie. The tenor of the new facility is five years in respect of $50 million, and three years (with a mechanism for two one year extensions by agreement of all parties) in respect of $235 million.
The change was initiated by Steadfast and delivers on the previously announced increased debt capacity following the Board's decision to raise the upper end of Steadfast's target corporate gearing level to 25% as reported to the market in February.
Yours faithfully
Linda Eilis
Group Company Secretary & Corporate Counsel
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