ING Office Fund has closed the fund's inaugural $1.425 billion unsecured syndicated debt facility.
The unsecured multicurrency facility has replaced a number of the fund’s previously secured facilities, including its domestic CMBS and a number of offshore asset level secured facilities.
The fund has a three year tranche of $A570 million and a five year tranche of $A855 million and is currently drawn in US$ and € denominations totalling approximately $A1.0 billion.
IOF’s chief executive Tino Tanfara said this is a great result for the fund and puts in place a cost effective, flexible debt facility, as well as providing IOF with capacity to fund future growth opportunities in an efficient and effective manner.
Australian Property Journal
