This article is from the Australian Property Journal archive
BECTON has negotiated with Suncorp to extend a number of debt facilities linked to its retirement developments.
Becton said the agreement will allow it time to complete a medium term finance package for each of the facilities during the month of August 2010.
Becton has extended two facilities totalling $28.4 million with Suncorp which were due expire on 31 July 2010, have been extended to 31 August 2010. The facilities fund retirement development assets and sites owned by Becton.
In addition, Suncorp has extended a $12.38 million facility to 31 August 2010. The facility funds a number of retirement development sites owned by the Becton and Oman Investment Fund alliance.
The alliance is also repaying the $2.2 million balance of a further facility with Suncorp, leaving one retirement development asset unencumbered.
Australian Property Journal
