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ASPEN GROUP — Capital/Financing Update 2012
Dec 16, 2012
64404_rns_2012-12-16_1f89e507-571d-4349-8b74-25851796b64b.pdf
Capital/Financing Update
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----- Start of picture text ----- Aspen Group LimitedABN 50 004 160 927Aspen Property TrustARSN 104 807 767Level 3, Newspaper House129 St Georges Terrace, PerthWestern Australia, 6000Telephone: 08 9220 8400Facsimile: 08 9220 8401Email: [email protected]----- End of picture text -----
ASX ANNOUNCEMENT 17 December 2012
DEBT REFINANCING COMPLETED FOR ATO BUILDING
Aspen Group wishes to advise that Aspen Funds Management Limited as responsible entity for the 12-26 Franklin Street Property Trust (‘Trust’) has executed a five year term facility with Westpac Banking Corporation to refinance the construction debt on the ATO Building in Adelaide. The Trust is jointly owned by Aspen Group and Telstra Super in a 50/50 joint venture.
The $117.6 million term facility refinances the existing development facility provided by Telstra Super, following practical completion of the ATO Building which occurred at the end of October 2012.
The Trust has confirmed a recent ‘on completion’ independent valuation of the ATO Building of $199 million.
In commenting on the new facility, Aspen Group Interim CEO Hugh Martin said, “We are delighted to have secured the support of Westpac for a debt facility, the commercial terms and nature of which, complement the long term nature of the investment in the ATO Building, with its major Commonwealth tenant profile and 14.8 year weighted lease duration.”
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For further information please contact:
Hugh Martin Brett Fullarton Interim Chief Executive Officer Chief Financial Officer Phone: (+61) 8 9220 8400 Phone: (+61) 8 9220 8400 Email [email protected] Email [email protected]
Aspen Group ASX Announcement 17 December 2012