GMT Bank Debt Facility and Credit Rating

Goodman (NZ) Limited, the manager of Goodman Property Trust (“GMT” or “Trust”) is pleased to announce that the Trust’s main bank facility has been extended and S&P Global Ratings have reaffirmed its credit rating.

Goodman (NZ) Limited's Chief Financial Officer, Andy Eakin, said, “We have taken the opportunity to extend GMT’s syndicated bank facility at competitive new margins, with altered participation levels by the syndicate banks. This extension maintains a weighted average term to expiry of 4.2 years across all the Trust’s debt facilities.”

Details of all of GMT’s debt facilities are attached as an appendix to this announcement.

In addition, S&P Global Ratings have recently reaffirmed GMT’s investment grade corporate credit rating of BBB/stable, with the Trust’s secured debt rated one notch higher at BBB+.

For more information please call:
Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(021) 305 316

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $3.4 billion, ranking it in the top 20 of all listed investment vehicles. The Trust is New Zealand’s leading warehouse and logistics space provider. It has a substantial property portfolio, which had a value of $3.8 billion at 31 March 2021. The Trust also holds an investment grade credit rating of BBB from S&P Global Ratings.

The Manager of the Trust is Goodman (NZ) Limited, a subsidiary of the ASX listed Goodman Group. Goodman Group is a $55 billion specialist global manager of warehouse and logistics real estate.

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Announcement PDF