refinance?

They call this refinance? Looks desperate to me


Becton Property Group Extension of debt facilities
Becton Property Group Limited (Becton or the Group) has negotiated extensions for a
number of debt facilities across the Group, its managed funds and its retirement alliance with the
Oman Investment Fund (the Alliance).
Becton
Two facilities with Suncorp-Metway Limited (Suncorp) that expired on 31 March 2010 have
been extended for 45 days. These facilities total approximately $35 million and fund a number of
retirement development assets owned by Becton.
Managed Funds
The Funds Management business has extended two facilities with Westpac Banking Corporation
(Westpac): a facility of approximately $16 million in the Becton Office Fund and a facility of
approximately $69 million in the Becton Retail Fund. The facilities, which expired on 31 March
2010, have been extended to 30 April 2010.
In addition, the Funds Management business has extended a facility with Westpac of
approximately $22 million in the Southlands Boulevarde Property Trust. This facility, which
expired on 31 March 2010, has been extended to 30 April 2010.
The Alliance
Two facilities with Suncorp that expired on 31 March 2010 have been extended for 45 days.
These facilities total approximately $16 million and fund a number of retirement development
assets owned by the Alliance.
All of the extensions are short term, in order to provide time to complete medium term financing
arrangements for each of the respective vehicles.