Refinancing of Bank Facilities
NZX and media
announcement
—
4 November 2019
REFINANCING OF BANK FACILITIES
Property for Industry Limited (PFI, the Company) is pleased to announce the refinancing of the
Company’s bank facilities.
Existing lenders ANZ, BNZ, CBA and Westpac have each committed a quarter of a combined total of
$300 million of facilities, up from $275 million prior to the refinancing. The facilities are in two equal $150
million tranches, expiring on 4 November 2022 and 2023.
Post this refinancing, the weighted average term to expiry of PFI’s bonds and bank facilities has
increased by 1.1 years to 4.3 years as at today’s date, as illustrated in the graph below.
Debt facility maturity profile ($m):
PFI Chief Finance and Operating Officer, Craig Peirce notes: “PFI’s forecast debt requirements are now
secured in a mix of bank facilities and bonds with expiry dates of three years or more, ensuring that we
are appropriately funded to deliver on our strategy of replacing the Company’s non-industrial assets with
quality industrial properties in sought-after areas, either via acquisitions or by value-add strategies within
the existing portfolio.”
ENDS
ABOUT PFI & CONTACT
PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 94 properties is leased to
148 tenants.
For further information please contact:
SIMON WOODHAMS CRAIG PEIRCE
Chief Executive Officer Chief Finance and Operating Officer
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Phone: +64 21 749 770 Phone: +64 21 248 6301
Email: woodhams@propertyforindustry.co.nz Email: peirce@propertyforindustry.co.nz
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Property for Industry Limited
Shed 24, Prince’s Wharf, 147 Quay Street, Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
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www.propertyforindustry.co.nz
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
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