1 Nov 2011

DNZ Property Fund revises bank debt

7:31 am on 1 November 2011

DNZ Property Fund has secured a revised $300 million bank debt facility evenly split with its existing bankers.

The facility comprises two different tranches, expiring in October 2014 and October 2015 respectively.

DNZ says the revised bank debt involves a reduction of line fees and margins, which is expected to save $2 million in finance costs.