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Viva Energy to refinance A$836.7M of unsecured syndicated bank debt

Viva Energy REIT will refinance A$836.7 million of unsecured syndicated bank debt with a revised syndicate of 12 banks.

The loans comprise a A$200 million three-year revolving debt facility, a A$268 million four-year term debt and a A$368 million five-year term debt.

The refinancing will increase the weighted average debt maturity of the retail real estate investment trust to 4.1 years from 2.1 years and will also bring the weighted average interest margin to 1.65%.

Viva said the draw down is pending the fulfillment of certain conditions that are expected to be satisfied June 4.

Bank of America Merrill Lynch, DBS Bank Ltd. and National Australia Bank Ltd. serve as the trust's lead arrangers.