PLP – Change in banking facility for wholesale fund

PLP – Change in Banking Facility for Wholesale Fund

14 April 2022

Booster Investment Management Limited (Booster), as manager, is pleased to announce a change in the
banking facility for the Private Land and Property Portfolio (PLPP), the wholesale fund into which the PLP
invests.

Under the new 5-year facility, for which a signed term sheet has been agreed (conditional on finalisation
of legal documentation and property valuation updates), the PLPP can draw up to $30 million and will
have greater flexibility to repay and redraw the amount borrowed in response to its fluctuating cash
position, the uncertain timing of property settlements and to better manage its gearing position.
Standard banking covenants will apply to the facility on terms equivalent to the existing facility.

The new facility is expected to be finalised and in place later this month and on terms consistent with the
signed term sheet. In anticipation of the change of facility, the existing debt facility of $12 million was
repaid from the Fund’s existing cash balance on 28 March 2022 with no corresponding break fee.


For more information, please contact:
Gary Scott
Company Secretary
Booster Investment Management Limited
04 8944300



About Booster
Booster Investment Management Limited (Booster) is the manager and issuer of the Fund, and part of
the Booster Group which has been helping New Zealanders save since 1998. The group currently
administers superannuation and investment funds of over $5.0 billion on behalf of more than 170,000
New Zealanders.
PLP is a managed investment fund that invests in land and property-based investments by investing in
units in Booster’s Private Land and Property Portfolio. PLP only holds these units.
For more information, including a copy of the Product Disclosure Statement and the latest net asset value
per unit, please visit www.booster.co.nz