Refinancing

Mirvac MGR Secures Finance


Australian property developer, Mirvac Group (ASX:MGR) has secured a new debt facility and refinances its debt. Two portions of debt has been refinanced, due to mature in June and next January into a new $1.85 billion facility. The new multicurrency facility, made up of maturities of one to five years, extends Mirvac's weighted average debt maturity from 2.5 years to 3.6 years.

Refinancing Boosts PanAust Shares


PanAust (PNA), an ASX listed cooper and gold mining company, has refinanced its debt worth $US 80 million with Goldman Sachs JBWere which is due next month. Even though the refinancing extension was expensive, the move increased the share price by 9 cents to 17.5 cents per share. PNA has issued the lender options worth of $75 million and would be forced to issue another $75 million if it fails to repay the debt within 31st of July.

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