Property developer Cedar Woods (ASX:CWP) has announced it has increased its corporate finance facility to $205 million, with an extension to the bank facility to 2020.
The $175 million facility has been increased by $30 million.
The facility, which is provided by ANZ and Bankwest, can be extended for an additional year, which refreshes the three-year term.
This will facilitate the company’s growth and recent expansion into South Australia.
The company said the facility will continue to provide funding for Cedar Wood’ existing operations, ongoing development of its projects and future acquisitions.
Shares in Cedar Woods (ASX:CWP) closed 1 per cent higher on Friday at $6.17.