ASPEN Group has secured the extension of its $120 million core debt facility with National Australia Bank.
NAB has extended the maturity date by 18 months to 31 August 2015, whilst all other terms and conditions of the facility remain materially unchanged.
CFO Brett Fullarton said the extension is consistent with Aspen’s strategic plan objective of de-risking its balance sheet.
“We are pleased to continue our relationship with National Australia Bank. The extension provides us with a secure funding platform for our core property operations,” he added.
In addition to the core debt facility extension, Aspen also secured a 12 months extension of the $33 million Aspen Development Fund No. 1 Limited (ADF) facility to February 2015. Aspen has a 75% interest in ADF.
Property Review
