ALE Property Group has entered into binding agreements with two Australian and one offshore bank to provide bilateral loan facilities totaling AUD 100 million; and binding agreements to issue a 3.5 year floating rate A-MTN for AUD 150 million. The proceeds will be used to refinance the AUD 250 million 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.