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GDI PROPERTY GROUP — Capital/Financing Update 2015
Oct 29, 2015
64974_rns_2015-10-29_09d7ac2f-6d7d-4257-8f85-9cebd8c9f10d.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
30 October 2015
SETTLEMENT OF 233 CASTLEREAGH STREET, SYDNEY
GDI Property Group is pleased to announce that the sale of 233 Castlereagh Street, Sydney, has settled today.
GDI Property Group has also executed a Deed of Amendment and Restatement of its debt facility, the effect of which is to:
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reduce the overall limit from $368 million to $255 million (including a $5 million bank guarantee in favour of GDI Funds Management Limited);
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extend the expiry of the three year tranches from December 2016 until October 2018; and
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reduce the five year tranche expiring December 2018 to zero.
Key covenants remain the same. Following settlement, GDI Property Group has approximately $200 million of drawn debt.
Media Enquiries:
Steve Gillard Managing Director +61 2 9223 4222
David Williams Chief Financial Officer +61 2 9223 4222
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