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NEWS

2016 debt facilities renewed. Dipula debt now substantially hedged

7th July 2016
Contributor: Dipula

JSE diversified REIT, Dipula, this week seized the rates downcycle opportunity on the swap market to conclude R360 million worth of swaps, for four years at a nominal rate of 7.85%. As a result, Dipula’s total debt hedge increased to 60.5% from 48% at 29 February 2016. CEO Izak Petersen says this strengthening of financial position is attributable to Dipula’s active and ongoing monitoring of debt capital markets for hedging opportunities.

The Fund has further refinanced the R610 million of debt facilities which are set to mature during the 2016 calendar year, at an average rate of 3 month JIBAR + 1.85%.The majority of debt was refinanced for three years.

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