ASX ANNOUNCEMENT

18 March 2021

Announcement No. 06/20

The Manager

Corporate Announcements Office Australian Securities Exchange

Capital Management Update

ALE Property Group ("ALE") has entered into:

  • binding agreements with two Australian and one offshore bank to provide bilateral loan facilities totalling $100m; and

  • binding agreements to issue a 3.5 year floating rate A-MTN for $150m.

The proceeds will be used to refinance the $250m debt facility entered into in April 2020.

The weighted average interest margin of this new debt is 204 bps p.a. This compares to the current 250 bps p.a interest margin on the facility to be repaid. Post these transactions, ALE's pro-forma weighted average debt maturity increases from 1.63 years to 2.65 years.

The A-MTN was heavily over-subscribed with 29 investors being allocated notes. Many of these are investors new to ALE debt.

- Ends -

This ASX release was approved and authorised for release by Guy Farrands, Managing Director.

Contact: Guy Farrands Managing Director ALE Property Group 02 8231 8588

Website:www.alegroup.com.au

Australian Leisure and Entertainment Property Management Limited ABN 45 105 275 278

Australian Leisure and Entertainment Property Trust ARSN 106 063 049

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Disclaimer

ALE Property Group published this content on 18 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 22:59:05 UTC.