Centuria Property Funds Limited, the Responsible Entity of Centuria Office REIT (ASX:COF) disclosed that it secured an additional 7-year debt facility from a financial services company- Credit Agricole.
With the new debt facility undrawn debt rose to $131.5 million, and the number of debt lenders increased to five. The competitive all in cost of debt was maintained at 2.3%.
Moreover, the weighted average debt maturity rose from 3.4 to 3.7 years, as at April 2020.
Notably, the new facility offers Centuria Office REIT better flexibility for the balance sheet and improved liquidity.