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FKP Property Refinances A$340 Million of Loans Due in Mid 2012

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Dec. 21 (Bloomberg) -- FKP Property Group, an Australian real-estate company, refinanced A$340 million ($343 million) of loans due in mid-2012.

The Brisbane-based company extended a A$272 million facility and a separate A$68 million project finance credit to June 30, 2015, according to a regulatory filing. The pricing and terms were improved on both, and the company’s weighted average cost of debt reduced to 8.3 percent, FKP said today in the filing.

FKP also agreed to a A$50 million project finance loan to fund the construction of an apartment development in Sydney, according to the filing.

To contact the reporter on this story: Sarah McDonald in Sydney at smcdonald23@bloomberg.net.

To contact the editor responsible for this story: Shelley Smith at ssmith118@bloomberg.net

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