COMPLETED AND EXECUTED FINAL DOCUMENTATION OF RENEWED CORPORATE FACILITY
International investment and specialised fund and asset management group Babcock & Brown (ASX: BNB) today announced that it has completed and executed final documentation on the renewal and extension of its 3 year evergreen corporate facility.
The facility has been extended from April 2010 to April 2011. The banking syndicate has been expanded from 20 to 25 banks and has approved an increase in the size of the facility from $2.35 billion to $2.8 billion. The expansion of the facility has been secured with only a small increase in margin which is more than offset by the decline in base rates in Babcock & Brown’s primary markets outside Australia.
BNB Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
