Macquarie backs Goodman refinancing
Funds manager Goodman Group has signed a new $300 million finance facility underpinned by Macquarie Bank, which it says will be sufficient to repay all 2009 debt expiries.
At the same time, the group announced to the Australian Securities Exchange (ASX) that it was in advanced discussions with its existing lenders to refinance and extend the term of approximately $225 million of debt due to expire in September and December.
It said it was currently in discussions with additional strategic investors regarding potential investments in the group and its underlying funds.
“These discussions may result in an upsizing of the facility and it is contemplated that additional investors would participate on the same terms as Macquarie,” Goodman group chief executive Greg Goodman said.
He said Goodman was pleased with the support provided by Macquarie and that the new facility addressed the group’s immediate debt refinancing and enabled it to execute a range of further capital initiatives.
Goodman said the key focus of the company remained the deleveraging of the business.
AUTHOR
Mike Taylor
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