Villa World Ltd. secured a A$190 million club financing arrangement with Australia and New Zealand Banking Group Ltd. and Westpac Banking Corp., which the Australian residential developer will use to fund its core business.
ANZ is providing a A$90 million loan maturing October 2020, a A$40 million loan maturing October 2021 and a A$10 million loan maturing March 2022. The bank also extended the maturity date of the A$10 million component of a facility expiring in August to October 2020.
Westpac, meanwhile, provided a A$50 million facility maturing March 2021 and extended the maturity date of a A$50 million facility to March 2021 from March 2019.
In addition, Villa World said it will pay March 29 the 8.0 Australian cents dividend it declared Feb. 14, as the initially planned March 30 payout date is a public holiday in Australia.
