$75 million Group debt facility executed

16/05/2011 - PDF Version Available

Charter Hall Group (ASX:CHC) (the ‘Group') today announced it has executed a $75 million corporate debt facility with Westpac Banking Corporation to provide greater liquidity and debt capacity for the Group to assist with working capital and to support new fund initiatives. The facility commences immediately and has a three year term at market pricing.


This new debt facility expands the existing strong relationship with Westpac that extends across a number of Charter Hall's managed funds and enables early repayment of $33 million drawn against the Group's existing $40 million facility. It will also allow cancellation of an undrawn $50 million facility that was established with Macquarie early in 2010.

Charter Hall Group Joint Managing Director, David Harrison, said: 'As indicated at the time of announcing the last half year results, the Group will give consideration to taking on some balance sheet debt to fund investments, both direct and co-investments in managed funds, to pursue opportunities to grow the business as the property market recovers.'

For further information, please contact:

David Harrison
Joint Managing Director
Tel: +61 412 259 751
david.harrison@charterhall.com.au

David Southon
Joint Managing Director
Tel: +61 418 479 155
david.southon@charterhall.com.au

Investor and media enquiries:

Kylie Ramsden
Head of Listed Investor Relations
Tel: +61 2 8295 1016
kylie.ramsden@charterhall.com.au

About the Charter Hall Group:

Charter Hall Group (ASX:CHC) is one of Australia's leading fully integrated property groups with 20 years' experience managing high quality property on behalf of institutional, wholesale and retail clients. Charter Hall has over $10 billion of funds under management across the office, retail, industrial and residential sectors. The Group has offices in Sydney, Melbourne, Brisbane, Adelaide, Perth, Warsaw and Chicago.

The Group's success is underpinned by a highly skilled and motivated team with diverse expertise across property sectors and risk-return profiles. Sustainability is a key element of its business approach and by ensuring its actions are commercially sound and make a difference to its people, customers and the environment, Charter Hall can make a positive impact for its investors, the community and the Group.


This information has been prepared by Charter Hall Funds Management Limited ABN 31 082 991 786; AFSL 262861 ("CHFML") for information purposes only. This website is not an offer to sell or a solicitation or an offer to subscribe or purchase or a recommendation of any securities referred to herein and the information has not taken into account any potential investors' personal objectives, financial situation or needs. Before investing, you should consider your own objectives, financial situation and needs or you should obtain financial, legal and/or taxation advice.

CHFML does not receive fees in respect of the general financial product advice it may provide, however they will receive fees for operating the schemes of which it is the responsible entity ("Schemes") which, in accordance with the Schemes' Constitutions, are calculated by reference to the value of the assets of the Schemes. Entities within the Charter Hall Group may also receive fees for managing the assets of, and providing resources to the Schemes. For more detail on fees, see our latest annual report. To contact us, call 1300 365 585 (local call cost).