This article is from the Australian Property Journal archive
CEDAR Woods has secured a new three-year $110 million corporate finance facility with ANZ Bank.
Managing Director Paul Sadleir said the facility will provide funding for the company’s existing operations, ongoing development and future acquisitions.
In terms of cost, the new facility is market competitive, with borrowing costs anticipated to be comparable to the company’s existing facility terms.
“On a national basis, the property finance market has been severely constrained. Suncorp announced some time ago that it is withdrawing from the property development finance market, prompting the requirement to refinance.
“Our ability to establish this new facility during difficult times is a reflection of the company’s strong cash flows, balance sheet and property portfolio,” he concluded.
Australian Property Journal
