The outstanding balance of the bank loan facility for the Private Land and Property Portfolio's wholesale fund has been fully repaid.
The repayment amount was $18.45 million and it took effect on July 15, 2024.
The loan repayment was funded through a combination of cash and ongoing subscriptions to PLP, including the purchase of additional units by other funds managed by Booster.
The repayment of the loan will enhance the running yield of the wholesale fund, given the current borrowing rates, said Booster, Booster, which manages the portfolio.
The facility will continue to be in place to allow for adjustments in the fund's gearing as borrowing costs change in the future.
An update to PLP's offer documents will be provided once completed.
See more
