Lend Lease Secures $1.04B Loan

Australia’s Lend Lease has secured a $1.04 billion syndicated loan, Reuters reports. The fully integrated property solutions provider initially targeted $800 million.

The new loan consists of a $634 million piece, maturing in July 2014 and a $405 million piece, maturing in July 2016. The company intends to use the funds to refinance the group’s fully drawn $608 million club loan that is due to mature in December 2011, adds Ninemsn.

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