Kiwi Property refinances $775M of bank facilities, slicing 20 basis points off fees, margins

Thu, 12 Nov 2015

By Jonathan Underhill Nov. 12 (BusinessDesk) - Kiwi Property Group, the country's largest listed property investor, has refinanced its $775 million of bank facilities, extending the terms and reducing the borrowing costs. The facilities with ANZ Bank, Bank of New Zealand, Commonwealth Bank and Westpac had a weighted average term of 3.1 years and a weighted average cost of 5.43 percent as at Sept. 30, which includes $125 million of 2022 bonds. The refinancing extended the term by weighted average term to maturity by 1.3 years, and reduced...

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