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ARENA REIT. — Capital/Financing Update 2013
Jun 13, 2013
64418_rns_2013-06-13_39a78a2c-e7e3-4008-8afc-f554f8a6a78d.pdf
Capital/Financing Update
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ASX Announcement
14 June 2013
REPAYMENT OF BANK DEBT
Arena Investment Management Limited ( Arena ), as responsible entity of Arena REIT ( ARF ), announced today that Area REIT has repaid $71.0 million of bank debt from the proceeds of the offer of units that settled on Wednesday 12 June 2013. The repayment is consistent with the product disclosure statement for ARF dated 13 May 2013 ( PDS ) and ARF’s debt facility agreement.
Following the repayment ARF has commenced operating under its new debt facility described in the PDS. ARF has drawn debt of $24.5 million with a further $85.5 million available to be drawn for eligible purposes, which include the acquisition of properties in accordance with ARF’s investment strategy and funding the proposed buy-back and withdrawal offer up to a maximum of $25 million.
ARF’s gearing ratio following the repayment is approximately 10%. ARF has a targeted gearing ratio of 35% to 45%.
Peter Hulbert Company Secretary Arena Investment Management Limited
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About Arena REIT
ARF is a newly listed property trust with an investment strategy to invest in sectors such as childcare, education, healthcare and government tenanted facilities.
Media enquiries:
Media enquiries: Investor enquiries: Bryce Mitchelson Arena Investor Services Joint Managing Director 1800 008 494 (Freecall within Australia) +61 408 275 375 +61 3 9093 9017 [email protected] [email protected]
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Arena Investment Management Limited ABN 077 235 879 Responsible entity of Arena REIT (ASX:ARF) (ARSN 106 891 641)
Level 20, 600 Bourke Street Locked Bag 32002 Collins Street East T +61 3 9093 9000 Freecall Melbourne VIC 3000 Melbourne VIC 8003 F +61 3 9093 9093 1800 008 494 www.arenainvest.com.au [email protected]