This article is from the Australian Property Journal archive
CENTURIA Capital has enhanced its balance sheet and bolstered its liquidity with a new $50 million debt facility.
CNI’s new $50 million debt facility introduces a major bank to its pool of lenders.
“The new facility and early refinancing demonstrate Centuria’s ability to access competitively priced funding and the introduction of a major Australian bank to CNI’s lender pool highlights the growing appetite from a broadening group of financiers,” said John McBain, joint CEO at Centuria.
CNI also commence early refinancing of its March 2025 wholesale notes, which the group plans to exercise by 9 October 2024.
“These initiatives follow the recently completed $100 million FY29 notes syndication, which received strong support from one of the Group’s large offshore institutional banking partners and introducing a major Australian superannuation fund to CNI’s financiers,” added McBain.
“CNI continues to actively manage its capital position, assessing opportunities to extend debt early, increase tenure, where possible and access competitive rates.”
This comes days after Centuria’s chairman, Garry Charmy, gave notice of his intention not to stand for re-election at the annual general meeting on 29 November 2024.
