Centuria Property Funds No.2 Limited (CPF2L) as Responsible Entity of the Centuria Industrial REIT (ASX:CIP) has completed the refinancing of its existing $420 million bank debt.
CIP has entered into agreements for three new facilities operating under a common terms structure with a total limit of $450 million at an anticipated “all in” rate of 4.2%. The new facilities have been sourced from two domestic banks, Bankwest & Westpac and an offshore financier, Prudential Insurance Company of America, improving the diversity of funding and extend CIP’s debt tenor to 3.3 years with a weighted average all in margin of 1.6%.
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