ANZO renegotiates bank facility

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AMP NZ Office Trust (ANZO) has renegotiated its bank debt facility.

ANZO's total bank debt of $485 million was due to expire in October 2009. The trust has negotiated a new three-year term with the Bank of New Zealand and Westpac for 50 percent of the facility, with the remainder to be addressed prior to October 2009.

"The facility renewal and the outcomes achieved demonstrate ANZO's ability to access credit in challenging and difficult credit market conditions," said ANZO chief executive Robert Lang said.

- NZPA