LEP
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0.00% $5.72 ale property group

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  1. FNN News
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    11/03/11
    12:12
    Post #: 8036919
    .

    ALE Property Group (ASX:LEP) is looking to raise $160 million in commercial backed debt according to Reuters.



    ALE owns 87 hotels and pubs Australia-wide and is looking to refinance $147 million of 5-year Commercial Mortgage Backed Securities maturing in May.



    Most of ALE’s properties are leased to retailer Woolworths Australian Leisure & Hospitality Group.



    Managing Director Andrew Wilkinson says the company is also considering other options, but this is the most likely course of action.



    ALE Property Group reported a half yearly net profit of $39.8 million to December 31, 2010.

    LEP Price at posting: $1.89 Sentiment: None Disclosure: Held
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