Outgoing ALE Property Group boss Andrew Wilkinson says the $1.2 billion pub landlord expects to enjoy materially lower rates when it refinances around $225 million of corporate bonds in the coming months.
"The existing bonds are on a coupon rate of 5 per cent, but they will be refinanced at a significantly lower coupon rate. It will be materially lower," he told The Australian Financial Review.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
