Retirement village owner & operator Arvida Group Ltd said today the legal documentation had been executed to effect the refinancing of its bank debt facility.
$375 million was due to expire in June 2021 but has been extended for a further 5 years and a new 18-month tranche with a limit of $100 million has been added, increasing the facility limit to $475 million.
The company said in a release: “Arvida remains in a strong financial position with current drawn debt of $313 million & $162 million of undrawn credit.”
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Attribution: Company release.