Argosy refinances bank facilities

GENERAL

Wed, Jul 19 2023 08:53 am

Argosy Property Limited (‘Argosy’ or ‘the Company’) has announced it has increased and extended its syndicated bank facilities with ANZ Bank of New Zealand Limited, Bank of New Zealand Limited, Hongkong and Shanghai Banking Corporation, Commonwealth Bank of Australia, Westpac New Zealand Limited and Industrial and Commercial Bank of China Limited.

The total amount of the bank facility has increased by $50 million and is now $525 million.

A new $115 million tranche of debt, Tranche C, has been established which expires in October 2027. Tranche B, which expires in October 2025, will reduce from $125 million to $60 million.

Argosy’s total funding tenor including green bonds, is currently 3.1 years.

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