WATPAC Limited has negotiated a one year extension to its $135 million property debt facility with ANZ Bank to 31 January 2014.
Watpac has also received a $15 million extension to its ANZ equipment finance facility to $100 million.
Watpac chair Chris Freeman said the banking facilities currently provided by ANZ had a total limit of almost $300 million, which demonstrated the bank’s financial support of Watpac’s business operations.
“While Watpac has not been immune to the effects of the recently-depressed property and construction markets, this refinancing with our major banking partner is evidence that our business operations are well supported,” he added.
Freeman said the new equipment finance limit will allow the company to continue the level of investment needed to meet the current and future demands of projects in the resources sector.
ANZ’s state director, institutional property group, Matt Lawrence said Watpac had been a customer of ANZ since 1984.
Property Review
