PFI refinances and borrows another $100m

Fri, 02 Jul 2021

Property for Industry said it has refinanced its $300 million syndicated bank facility and increased the size of its bank facilities by $100m through a two-year loan from Bank of New Zealand.The syndicated facility's expiry date has been extended by about two years and eight months to July 2, 2025 and 2026 while the BNZ loan expires on July 2, 2023.BNZ, ANZ Bank NZ, Commonwealth Bank of Australia and Westpac NZ are each providing $75m of the syndicated facility.Following the refinancing, PFI's weighted average term to expiry, including...

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