Dexus completes $670m infrastructure refinancing
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The news: Dexus has refinanced $670 million of debt for two core infrastructure fund assets, which has lowered the cost of debt extended maturities and lowered near-term refinancing risk.
The numbers: The Dexus Diversified Infrastructure Trust and Dexus Core Infrastructure Fund-owned student accommodation at the Australian National University (ANU) has undergone $570 million in debt refinancing.
Meanwhile, the Port Hedland International Airport has had a $100 million debt extension on. The airport is 50% owned collectively by the Dexus Diversified Infrastructure Trust and Dexus Operations Trust.
Dexus was up 1.1% to $7.41 at 3:30pm AEST.
The context: The ANU student accommodation refinancing was supported by the Dexus Treasury team, Acton Advisory, Minter Ellison and King & Wood Mallesons. Meanwhile, the Port Hedland International Airport debt extension was managed by Dexus with support from Ashurst and White and Case.
What they said: “We have navigated complex market conditions, leveraging our deep capital markets expertise and strong lender relationships to secure favourable terms, delivering long-term value for investors,” Dexus executive general manager, infrastructure Michael Bessell said.
The source: Dexus media release
