This article is from the Australian Property Journal archive
THE Multiplex Acumen Property Fund has finalised a deal with its lender National Australia Bank.
This agreement will amend the terms of the existing debt facility with NAB to allow for a rebate of 75% of the additional interest charged on Tranche B of the facility from April 1 2010 in the event that the fund reduces the facility balance below $37.1 million by way of a recapitalisation before September 30 2010.
If successful, the changes provide a clear benefit to the fund via a reduction in the margin of the facility by 7.5%.
Meanwhile the responsible entity, Brookfield Multiplex Capital Management Limited has appointed KPMG’s Corporate Finance to review the strategic options available to the fund including a potential capital raising.
Australian Property Journal
