Arvida Group Limited today announced that it has completed a refinance of its bank debt facility with ANZ Bank New Zealand Limited and Bank of New Zealand.

The refinance refreshed the tenure of the three $125 million facilities to 3, 4 and 5 years.

A new facility with a limit of $50 million and a tenure of 2 years was added.

The total limit of the bank facilities is now $425 million.

Arvida’s weighted average funding tenure (including its retail bond) is currently 4.4 years.

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