DEBT FACILITIES ROLLOVER
RLG has obtained credit approval and is progressively finalising the execution of
documentation for the restructuring and rollover of loan facilities with its senior
corporate and key project financier. All facilities that expired on 30 July 2010 have
been rolled over and the finalisation of documentation for the extension of remaining
facility for Renaissance Rise, totalling $33 million and expiring in September 2010, is
expected to occur shortly.
In addition to this, and as previously disclosed, RLG has agreed terms with its
subordinated corporate lender Babcock & Brown International Pty Limited, for the
rollover of this facility.
Once the rollover of the corporate and project debt facilities has been completed and
with the agreement from Babcock & Brown International Pty Limited to rollover its
debt, RLG will have secured long term debt with a weighted average debt maturity
profile of 2.42 years.
Mr Wightman said, ?We are very pleased to have secured credit approval for a long
term debt commitment from our core lenders. Over the past 15 months RLG has
benefitted from robust conditions within its key markets and this has enabled us to
actively pursue our core strategy of de-leveraging the balance sheet. link is in in rlg annoucements
BNB
babcock & brown limited
