Cambridge Industrial Trust to refinance NAB loan facilty

SINGAPORE (Sept 19): The manager of Cambridge Industrial Trust (CIT) says it will be refinancing the loan facility granted by National Australia Bank on Monday.

As a result, CIT’s weighted average debt expiry will be lengthened to 3.4 years with 88.5% of interest rate exposure fixed, and all-in cost of debt stable at 3.65% p.a., says Cambridge Industrial Trust Management (CITM).

All of CIT’s properties will be fully unencumbered, representing total portfolio value in excess of $1.4 billion.

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