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

The refinance refreshed the tenure of the $100 million facility by 2 years. It now has a tenure of 3 years to expiry. The refinance also increased the limit of the $50 million facility to $100 million and refreshed the tenure by 1 year. It now has a tenure of 2 years to expiry.

The total limit of the bank facilities is now $575 million.

Arvida’s weighted average funding tenure (including its retail bond) is currently 3.3 years.

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