Lenders warm to forward starts as Westfield reaches $1bn
Australian retail property group Westfield has attracted commitments worth over $1bn for its forward start facility after only two weeks in the market, showing the region’s acceptance of the new product.
Westfield is looking to refinance and extend part of a $4.685bn loan signed in June 2007 and is only $250m shy of its $1.25bn target. The forward start, or FSF, is only the second deal of its kind in the Asian market.
"Some existing lenders have asked to upsize
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