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GROWTHPOINT PROPERTIES AUSTRALIA — Capital/Financing Update 2013
Dec 19, 2013
65007_rns_2013-12-19_4d7b1f7a-0aaa-40df-96f1-7e140251d8f5.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT GROWTHPOINT PROPERTIES AUSTRALIA (ASX Code: GOZ)
20 December 2013
Bilateral debt facility re-pricing and term extension
Growthpoint Properties Australia ( Growthpoint ) is pleased to advise that is has re-priced and extended the term of its existing $70 million bilateral debt facility agreement with National Australia Bank, with effect from today.
The maturity date has been extended by three years from 30 April 2016 to 30 April 2019.
Dion Andrews, Chief Financial Officer, commented –
“Growthpoint has taken advantage of the current market to extend the weighted average maturity profile of its debt from 3.6 to 3.8 years and simultaneously bring down the weighted average cost of debt from 6.7% per annum at 30 June 2013 to just under 6.0% per annum (including amortisation of all upfront fees paid to financiers).
Growthpoint’s earliest debt maturity is now December 2016 and this, coupled with interest rate hedging covering 85% of debt, provides a high level of certainty about debt costs over the medium term.”
ENDS www.growthpoint.com.au
Timothy Collyer, Managing Director
Media and investor enquiries should be directed to:
Aaron Hockly, Company Secretary Growthpoint Properties Australia Telephone: +61 8681 2900 [email protected]
Growthpoint Properties Australia
Growthpoint Properties Australia is a publicly traded ASX listed A-REIT (ASX Code: GOZ) that specialises in the ownership and management of quality investment property. GOZ owns interests in a diversified portfolio of 48 office and industrial properties throughout Australia valued at over $1.8 billion (including recently announced acquisitions at their value on completion) and has an investment mandate to invest in office, industrial and retail property sectors.
GOZ aims to grow its portfolio over time and diversify its property investment by asset class, geography and tenant exposure through individual property acquisitions, portfolio transactions and corporate activity (M&A transactions) as opportunities arise.
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