TRINITY has negotiated an 18-month financier extension on its existing debt facilities with the National Australia Bank.
Trinity’s debt facilities with NAB were due to expire on 30 April 2013, and as a result of the extension, will now expire on 31 October 2014.
The financial covenants of the extended facilities are a loan to value ratio covenant of 50%, with a maximum LVR of 55% to allow for adverse valuation movements, with no redraw of facilities available; and an interest cover ratio of 1.5 times.
Property Review
