21 May 2010
BROOKFIELD MULTIPLEX COMPLETES $1.4 BILLION OF FINANCINGS AND ANNOUNCES CONDITIONAL SETTLEMENT OF CLASS ACTION LAWSUIT
Brookfield Multiplex announced today that it has completed property-level and corporate debt financings totalling $1.4 billion. The property-level financings completed with a combination of domestic and foreign-based lenders include:
�X The $463 million CMBS secured debt facility maturing on 20 May 2010, refinanced with a new $355m multi-lender debt facility maturing in May 2013 and through the utilisation of available capacity on an existing property finance facility maturing in November 2012; and
�X The $407 million Investment Finance Facility also maturing on 20 May 2010 refinanced with a new $397 million multi-lender facility maturing in May 2013.
In addition, the $750 million Brookfield Australia Acquisition Facility, guaranteed by the Brookfield Multiplex Property Trust, has been refinanced by Brookfield Australia with a new $500 million corporate facility maturing in April 2013. Ross McDiven, CEO of Brookfield Multiplex said, ��With the completion of these financing transactions, Brookfield Multiplex has executed in excess of $2.3 billion of financings in the past 6 months, representing all material maturities in our commercial property portfolio. These financings were made possible through Brookfield��s strong relationships with both domestic and foreign financial institutions and the high-quality nature of our commercial office portfolio.�� Brookfield Multiplex has also conditionally agreed to settle claims made against it by persons represented by lawyers Maurice Blackburn. An application will shortly be made to the Federal Court of Australia seeking approval of this proposed settlement.
Advice sought from the more experienced posters.
What is the implication of the above ann for MXUPA.
Are we any nearer to the oftmentioned IPO?
Does it mean that MXUPA will be redeemed?
Thanking you in advance
MXU
multiplex sites trust
