Viva Energy REIT (ASX:VVR) has entered into binding agreements with an Australian-based international fund manager and an Australian industry super fund under which two institutional loans have been made available.
The institutional loans are unsecured and comprise two separate facilities one for 8 years and the other for 10 years, totaling $60 million.
Draw downs on each of the loans is subject to a number of conditions precedent that are similar to those included under Viva REIT’S current syndicated facility agreement.
The company says it’s pleased to confirm its inaugural institutional loan program which will provide a diversity of funding sources and extended duration.
Shares in Viva Energy REIT (ASX:VVR) are trading down 1.79 per cent to $2.20.