DNZ Property refinances $400 mln banking facility, extends maturity

Thu, 30 Oct 2014

By Suze Metherell Oct. 31 (BusinessDesk) - DNZ Property Fund, the listed property investor, has refinanced its $400 million banking facilities, extending the expiry date on its loan. The Auckland-based property investor has extended its two $200 million tranches by a year, with the first one due at the end of October in 2017, and the second tranche due October 2019, securing more favourable margins and line fees were achieved, it said in a statement. The announcement comes after DNZ revalued its property portfolio to $788 million at Sept....

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